Rakuten Securities Inc. Buys 66 Shares of Workday, Inc. (NASDAQ:WDAY)

Rakuten Securities Inc. lifted its stake in Workday, Inc. (NASDAQ:WDAY) by 78.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150 shares of the software maker’s stock after acquiring an additional 66 shares during the period. Rakuten Securities Inc.’s holdings in Workday were worth $39,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in WDAY. Roxbury Financial LLC bought a new position in shares of Workday in the 4th quarter worth $25,000. Crews Bank & Trust bought a new position in shares of Workday in the 4th quarter worth $26,000. Avion Wealth raised its position in shares of Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares in the last quarter. Finally, New Millennium Group LLC raised its position in shares of Workday by 177.4% in the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after acquiring an additional 94 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the transaction, the insider now owns 111,324 shares of the company’s stock, valued at $29,556,522. This represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total value of $15,692,670.00. Following the transaction, the insider now directly owns 284,000 shares of the company’s stock, valued at $78,188,040. The trade was a 16.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 435,829 shares of company stock worth $113,033,319. 20.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on WDAY. JPMorgan Chase & Co. upped their target price on Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Morgan Stanley lowered Workday from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $330.00 to $275.00 in a research report on Wednesday, February 19th. Redburn Atlantic began coverage on Workday in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Daiwa America raised Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada upped their target price on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $302.14.

Workday Stock Performance

Shares of WDAY stock opened at $237.22 on Friday. The company has a market capitalization of $63.10 billion, a P/E ratio of 39.34, a P/E/G ratio of 3.55 and a beta of 1.38. The business’s 50 day moving average is $257.09 and its two-hundred day moving average is $255.67. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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.