Tokio Marine Asset Management Co. Ltd. Sells 157 Shares of Workday, Inc. (NASDAQ:WDAY)

Tokio Marine Asset Management Co. Ltd. lowered its holdings in Workday, Inc. (NASDAQ:WDAY) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,145 shares of the software maker’s stock after selling 157 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Workday were worth $1,502,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Workday during the third quarter worth $26,000. Crewe Advisors LLC purchased a new stake in shares of Workday during the 1st quarter worth $27,000. SouthState Corp boosted its position in Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after purchasing an additional 129 shares in the last quarter. Goodman Advisory Group LLC purchased a new position in Workday in the second quarter valued at about $35,000. Finally, Asset Dedication LLC bought a new position in Workday in the second quarter worth about $36,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

WDAY has been the topic of a number of analyst reports. Citigroup cut their price objective on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Evercore ISI reduced their price target on Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Barclays raised their price objective on Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. KeyCorp increased their price target on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company boosted their price target on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and a consensus target price of $287.59.

Workday Trading Down 1.8 %

WDAY stock opened at $271.49 on Friday. 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 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a market cap of $71.94 billion, a P/E ratio of 47.30, a PEG ratio of 5.49 and a beta of 1.35. The company’s 50-day simple moving average is $246.33 and its 200-day simple moving average is $236.28.

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

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred 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 sale, the insider now directly owns 281,000 shares of the company’s stock, valued at $68,004,810. The trade was a 16.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the completion of the transaction, the director now directly owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. This represents a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 370,575 shares of company stock valued at $91,506,897. 20.00% of the stock is owned by company insiders.

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.