Korea Investment CORP Sells 8,053 Shares of Workday, Inc. (NASDAQ:WDAY)

Korea Investment CORP cut its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 187,528 shares of the software maker’s stock after selling 8,053 shares during the period. Korea Investment CORP owned approximately 0.07% of Workday worth $48,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after purchasing an additional 4,517,272 shares in the last quarter. Parnassus Investments LLC raised its holdings in Workday by 562.2% during the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after buying an additional 2,078,097 shares during the period. Raymond James Financial Inc. bought a new position in Workday in the fourth quarter valued at approximately $194,679,000. Two Sigma Advisers LP boosted its holdings in shares of Workday by 1,094.2% in the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after buying an additional 562,400 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Workday by 62.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,360,002 shares of the software maker’s stock worth $350,921,000 after acquiring an additional 524,799 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the completion of the sale, the director now owns 75,000 shares of the company’s stock, valued at $18,099,750. This represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 71,672 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $25,602,994.26. The trade was a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 487,145 shares of company stock valued at $123,289,438 in the last quarter. Company insiders own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on WDAY. KeyCorp boosted their price objective on shares of Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Loop Capital boosted their price target on Workday from $242.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, February 19th. JMP Securities reiterated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a report on Thursday, February 6th. Mizuho boosted their target price on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Morgan Stanley cut shares of Workday from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $330.00 to $275.00 in a research note on Wednesday, February 19th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $300.36.

Workday Price Performance

Workday stock opened at $244.55 on Friday. The stock’s 50 day moving average is $256.89 and its 200-day moving average is $254.93. The company has a market capitalization of $65.05 billion, a price-to-earnings ratio of 40.56, a PEG ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Equities research analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Workday Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.