Dai ichi Life Insurance Company Ltd Decreases Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Dai ichi Life Insurance Company Ltd lowered its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 20.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,041 shares of the software maker’s stock after selling 3,681 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Workday were worth $3,432,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its position in Workday by 0.6% during the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after acquiring an additional 14,159 shares during the last quarter. Bank of Montreal Can raised its position in Workday by 21.1% during the third quarter. Bank of Montreal Can now owns 273,184 shares of the software maker’s stock worth $66,553,000 after acquiring an additional 47,546 shares during the last quarter. Mirabella Financial Services LLP raised its position in Workday by 65.6% during the third quarter. Mirabella Financial Services LLP now owns 9,792 shares of the software maker’s stock worth $2,357,000 after acquiring an additional 3,878 shares during the last quarter. DRW Securities LLC acquired a new position in Workday during the third quarter worth about $973,000. Finally, Independent Advisor Alliance raised its position in Workday by 4.2% during the third quarter. Independent Advisor Alliance now owns 1,604 shares of the software maker’s stock worth $392,000 after acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Activity

In other news, Director Wayne A.I. Frederick sold 1,828 shares of the company’s 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 in the company, valued at approximately $2,097,806.90. This represents a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard Harry Sauer sold 3,134 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total transaction of $738,934.52. Following the completion of the transaction, the insider now owns 85,795 shares of the company’s stock, valued at $20,228,745.10. This trade represents a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 359,954 shares of company stock worth $88,742,132. 20.00% of the stock is currently owned by company insiders.

Workday Price Performance

WDAY opened at $270.19 on Wednesday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The company has a 50 day moving average of $248.52 and a two-hundred day moving average of $237.21. The company has a market cap of $71.60 billion, a P/E ratio of 47.07, a P/E/G ratio of 5.31 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm earned $0.47 earnings per share. Workday’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, analysts expect that Workday, Inc. will post 2.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on WDAY shares. Loop Capital lifted their target price on shares of Workday from $255.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. JMP Securities restated a “market outperform” rating and set a $315.00 target price on shares of Workday in a research report on Thursday, September 19th. Needham & Company LLC restated a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Monday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $289.46.

Workday Company 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.