Workday, Inc. (NASDAQ:WDAY) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lessened its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,170 shares of the software maker’s stock after selling 369 shares during the period. Sumitomo Life Insurance Co.’s holdings in Workday were worth $2,808,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Beacon Capital Management LLC grew its position in shares of Workday by 333.3% in the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after acquiring an additional 70 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Workday in the first quarter valued at $25,000. VisionPoint Advisory Group LLC boosted its holdings in Workday by 215.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after acquiring an additional 84 shares during the period. Clear Street Markets LLC bought a new stake in Workday in the 3rd quarter worth $29,000. Finally, Quarry LP purchased a new stake in Workday in the 2nd quarter worth approximately $29,000. 89.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Workday

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the transaction, the insider now directly owns 165,932 shares in the company, valued at $48,749,162.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Workday news, insider Douglas A. Robinson sold 411 shares of Workday stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total value of $109,695.90. Following the sale, the insider now owns 165,521 shares of the company’s stock, valued at approximately $44,177,554.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total value of $916,918.59. Following the sale, the insider now owns 165,932 shares in the company, valued at approximately $48,749,162.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 379,691 shares of company stock valued at $102,897,729. Corporate insiders own 21.09% of the company’s stock.

Workday Trading Down 1.8 %

Shares of Workday stock traded down $4.78 on Friday, hitting $263.69. 1,251,168 shares of the company’s stock traded hands, compared to its average volume of 1,451,418. Workday, Inc. has a one year low of $174.25 and a one year high of $311.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a market capitalization of $69.61 billion, a PE ratio of 51.20, a price-to-earnings-growth ratio of 6.59 and a beta of 1.32. The firm’s 50-day moving average price is $282.11 and its two-hundred day moving average price is $261.21.

Workday (NASDAQ:WDAY) last issued its earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The company’s revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.14) earnings per share. On average, research analysts expect that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on WDAY. JMP Securities restated a “market outperform” rating and set a $315.00 price target on shares of Workday in a research report on Tuesday, February 27th. Mizuho increased their price objective on shares of Workday from $290.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Stifel Nicolaus upped their price target on Workday from $250.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, February 27th. TheStreet upgraded shares of Workday from a “c” rating to a “b-” rating in a research report on Monday, February 26th. Finally, UBS Group cut their price objective on Workday from $315.00 to $300.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $293.61.

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.