AIA Group Ltd Sells 16,944 Shares of Workday, Inc. (NASDAQ:WDAY)

AIA Group Ltd reduced its holdings in Workday, Inc. (NASDAQ:WDAY) by 46.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,781 shares of the software maker’s stock after selling 16,944 shares during the quarter. AIA Group Ltd’s holdings in Workday were worth $5,395,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in WDAY. Quantbot Technologies LP purchased a new stake in Workday during the 1st quarter valued at about $3,282,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Workday by 36.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 15,493 shares of the software maker’s stock worth $4,226,000 after buying an additional 4,115 shares during the last quarter. Duality Advisers LP lifted its position in Workday by 117.8% during the first quarter. Duality Advisers LP now owns 6,372 shares of the software maker’s stock valued at $1,738,000 after purchasing an additional 3,446 shares in the last quarter. Csenge Advisory Group raised its holdings in Workday by 30.1% during the first quarter. Csenge Advisory Group now owns 1,075 shares of the software maker’s stock valued at $293,000 after acquiring an additional 249 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in Workday by 39.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 9,105 shares of the software maker’s stock valued at $2,483,000 after acquiring an additional 2,586 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total transaction of $669,267.24. Following the transaction, the insider now directly owns 204,066 shares in the company, valued at approximately $43,759,913.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total transaction of $669,267.24. Following the completion of the sale, the insider now directly owns 204,066 shares of the company’s stock, valued at approximately $43,759,913.04. 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 56,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $228.12, for a total transaction of $12,774,720.00. Following the transaction, the insider now directly owns 618,000 shares of the company’s stock, valued at $140,978,160. The disclosure for this sale can be found here. Insiders have sold a total of 468,672 shares of company stock valued at $103,096,914 in the last 90 days. 20.00% of the stock is currently owned by insiders.

Workday Stock Up 1.4 %

WDAY traded up $3.21 on Friday, reaching $230.02. 1,686,305 shares of the company traded hands, compared to its average volume of 2,195,146. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00. The company has a market cap of $60.96 billion, a price-to-earnings ratio of 41.45, a PEG ratio of 5.62 and a beta of 1.35. The stock’s 50 day moving average price is $227.39 and its 200-day moving average price is $260.12. Workday, Inc. has a 52-week low of $202.01 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 5.78%. Workday’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.16 earnings per share. On average, sell-side analysts expect that Workday, Inc. will post 2.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on WDAY. Evercore ISI dropped their price target on Workday from $350.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. UBS Group lowered their price target on shares of Workday from $280.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Guggenheim reissued a “sell” rating and set a $190.00 target price on shares of Workday in a research note on Tuesday, June 25th. Bank of America decreased their price target on shares of Workday from $330.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $350.00 price target on shares of Workday in a report on Friday, May 24th. 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $281.44.

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.