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

Mirae Asset Global Investments Co. Ltd. grew its stake in Workday, Inc. (NASDAQ:WDAY) by 14.6% during the fourth quarter, HoldingsChannel reports. The fund owned 82,896 shares of the software maker’s stock after acquiring an additional 10,560 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Workday were worth $21,964,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Sanctuary Advisors LLC raised its holdings in Workday by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after purchasing an additional 1,978 shares in the last quarter. Grafton Street Partners Fund LP purchased a new position in shares of Workday in the 3rd quarter worth approximately $4,424,000. ICICI Prudential Asset Management Co Ltd raised its stake in shares of Workday by 32.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after acquiring an additional 7,802 shares in the last quarter. Nordea Investment Management AB lifted its position in Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after acquiring an additional 119,769 shares during the last quarter. Finally, Atria Investments Inc boosted its stake in Workday by 19.3% in the third quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock valued at $10,833,000 after acquiring an additional 7,175 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 70,003 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $25,872,846.40. This trade represents a 40.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now owns 35,408 shares in the company, valued at $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is owned by insiders.

Workday Trading Up 6.3 %

WDAY stock opened at $276.17 on Thursday. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market cap of $73.46 billion, a P/E ratio of 45.80, a PEG ratio of 4.73 and a beta of 1.35. The company’s 50-day simple moving average is $260.70 and its 200-day simple moving average is $249.53.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the firm posted $0.47 earnings per share. The company’s revenue was up 15.8% compared to the same quarter last year. As a group, equities analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on WDAY. Royal Bank of Canada increased their price objective on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Citigroup decreased their price target on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Oppenheimer restated an “outperform” rating and set a $300.00 price target on shares of Workday in a research note on Tuesday, December 3rd. Guggenheim raised shares of Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. Finally, Morgan Stanley boosted their target price on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $292.25.

About Workday

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.