The Manufacturers Life Insurance Company Boosts Stock Position in Workday, Inc. (NASDAQ:WDAY)

The Manufacturers Life Insurance Company lifted its position in Workday, Inc. (NASDAQ:WDAY) by 0.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,316,167 shares of the software maker’s stock after purchasing an additional 14,159 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Workday were worth $566,094,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Legal & General Group Plc boosted its holdings in Workday by 7.4% in the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after purchasing an additional 118,180 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Workday by 15.2% in the second quarter. Bank of New York Mellon Corp now owns 1,167,131 shares of the software maker’s stock worth $260,924,000 after buying an additional 153,577 shares during the last quarter. Van ECK Associates Corp grew its holdings in Workday by 0.4% during the third quarter. Van ECK Associates Corp now owns 934,828 shares of the software maker’s stock worth $226,266,000 after acquiring an additional 4,127 shares during the period. Charles Schwab Investment Management Inc. raised its position in Workday by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 835,203 shares of the software maker’s stock valued at $204,132,000 after acquiring an additional 24,195 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Workday by 13.4% in the second quarter. Envestnet Asset Management Inc. now owns 698,776 shares of the software maker’s stock valued at $156,218,000 after acquiring an additional 82,570 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on WDAY. Barclays raised their price objective on shares of Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Workday from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Scotiabank began coverage on shares of Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price on the stock. DA Davidson lifted their price target on Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Finally, The Goldman Sachs Group upped their price target on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.46.

Insiders Place Their Bets

In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the sale, the director now owns 8,674 shares in the company, valued at $2,097,806.90. This represents a 17.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The trade was a 39.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 359,954 shares of company stock worth $88,742,132 over the last three months. Company insiders own 20.00% of the company’s stock.

Workday Price Performance

WDAY stock opened at $267.69 on Tuesday. The business’s fifty day moving average price is $248.08 and its 200 day moving average price is $237.05. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a market capitalization of $70.94 billion, a PE ratio of 46.64, a P/E/G ratio of 5.31 and a beta of 1.35. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

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.