Meiji Yasuda Life Insurance Co Cuts Stake in Workday, Inc. (NASDAQ:WDAY)

Meiji Yasuda Life Insurance Co lessened its holdings in Workday, Inc. (NASDAQ:WDAY) by 7.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,612 shares of the software maker’s stock after selling 130 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Workday were worth $360,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Workday by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after purchasing an additional 324,540 shares during the period. Sustainable Growth Advisers LP grew its position in shares of Workday by 9.7% during the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock worth $927,998,000 after buying an additional 301,463 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Workday by 12.4% during the first quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock worth $693,382,000 after buying an additional 281,207 shares during the period. Artisan Partners Limited Partnership raised its holdings in Workday by 5.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,511,764 shares of the software maker’s stock valued at $417,338,000 after acquiring an additional 75,903 shares in the last quarter. Finally, Meritage Group LP lifted its stake in Workday by 27.5% in the first quarter. Meritage Group LP now owns 1,277,359 shares of the software maker’s stock worth $348,400,000 after acquiring an additional 275,883 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of recent analyst reports. Needham & Company LLC dropped their price objective on shares of Workday from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $300.00 price target on shares of Workday in a report on Friday, September 13th. BMO Capital Markets reiterated an “outperform” rating and issued a $300.00 price objective on shares of Workday in a report on Wednesday. TD Cowen cut their target price on Workday from $330.00 to $290.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $286.30.

Insider Buying and Selling at Workday

In other news, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the transaction, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the sale, the director now owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction that occurred on 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 directly owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 466,402 shares of company stock valued at $107,992,034. 20.00% of the stock is owned by company insiders.

Workday Trading Up 0.1 %

NASDAQ WDAY opened at $248.47 on Thursday. 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 stock has a market capitalization of $65.84 billion, a P/E ratio of 44.77, a P/E/G ratio of 5.07 and a beta of 1.35. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The firm has a 50-day moving average price of $236.71 and a 200 day moving average price of $242.43.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 EPS. Equities research analysts expect that Workday, Inc. will post 2.39 EPS for the current year.

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.