Mirae Asset Global Investments Co. Ltd. Boosts Position in Workday, Inc. (NASDAQ:WDAY)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 4.8% in the third quarter, Holdings Channel reports. The institutional investor owned 72,336 shares of the software maker’s stock after buying an additional 3,316 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Workday were worth $17,622,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Crewe Advisors LLC purchased a new position in shares of Workday during the first quarter worth about $27,000. SouthState Corp grew its holdings in shares of Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after purchasing an additional 129 shares in the last quarter. Pacific Center for Financial Services grew its holdings in shares of Workday by 57.0% during the first quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock worth $43,000 after purchasing an additional 57 shares in the last quarter. Goodman Advisory Group LLC purchased a new position in shares of Workday during the second quarter worth about $35,000. Finally, Asset Dedication LLC purchased a new position in shares of Workday during the second quarter worth about $36,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $242.01, for a total value of $13,552,560.00. Following the completion of the transaction, the insider now owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 370,575 shares of company stock worth $91,506,897. 20.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WDAY has been the subject of several recent analyst reports. DA Davidson boosted their price objective on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Canaccord Genuity Group reissued a “buy” rating and set a $300.00 price objective on shares of Workday in a report on Friday, September 13th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Workday in a research note on Wednesday, September 18th. KeyCorp upped their target price on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Needham & Company LLC cut their target price on Workday from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $287.04.

Workday Price Performance

Shares of Workday stock opened at $237.71 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The company has a market cap of $62.99 billion, a PE ratio of 42.83, a P/E/G ratio of 4.90 and a beta of 1.35. The business has a 50 day moving average of $247.09 and a 200 day moving average of $237.03. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 earnings per share. As a group, equities research analysts forecast that Workday, Inc. will post 2.4 earnings per share 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.