AIA Group Ltd Trims Stake in Workday, Inc. (NASDAQ:WDAY)

AIA Group Ltd cut its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,462 shares of the software maker’s stock after selling 803 shares during the period. AIA Group Ltd’s holdings in Workday were worth $6,054,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDAY. Crews Bank & Trust purchased a new stake in Workday in the 4th quarter worth approximately $26,000. Roxbury Financial LLC bought a new stake in shares of Workday during the 4th quarter valued at $25,000. Avion Wealth boosted its holdings in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares during the period. TCTC Holdings LLC bought a new stake in Workday during the fourth quarter valued at about $35,000. Finally, True Wealth Design LLC lifted its position in shares of Workday by 4,766.7% in the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after acquiring an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insiders Place Their Bets

In other news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $241.33, for a total value of $1,809,975.00. Following the transaction, the director now owns 75,000 shares of the company’s stock, valued at $18,099,750. The trade was a 9.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the sale, the insider now directly owns 111,324 shares of the company’s stock, valued at $29,556,522. The trade was a 5.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 431,145 shares of company stock worth $108,631,438. 20.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Mizuho lifted 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. JMP Securities reiterated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Thursday, February 6th. BNP Paribas raised shares of Workday to a “strong-buy” rating in a report on Friday, February 14th. UBS Group boosted their target price on Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised their price target on Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $300.36.

Workday Trading Down 2.5 %

WDAY opened at $238.49 on Monday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The company has a market capitalization of $63.44 billion, a P/E ratio of 39.55, a PEG ratio of 3.55 and a beta of 1.38. The stock’s fifty day moving average is $256.67 and its two-hundred day moving average is $254.82. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Analysts forecast that Workday, Inc. will post 2.63 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.