Meiji Yasuda Asset Management Co Ltd. Acquires 529 Shares of Workday, Inc. (NASDAQ:WDAY)

Meiji Yasuda Asset Management Co Ltd. lifted its stake in Workday, Inc. (NASDAQ:WDAY) by 17.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,507 shares of the software maker’s stock after acquiring an additional 529 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Workday were worth $784,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in WDAY. Mercer Global Advisors Inc. ADV boosted its stake in Workday by 10.2% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 4,424 shares of the software maker’s stock worth $965,000 after purchasing an additional 408 shares during the period. E Fund Management Co. Ltd. boosted its position in shares of Workday by 3.7% in the second quarter. E Fund Management Co. Ltd. now owns 1,812 shares of the software maker’s stock valued at $405,000 after acquiring an additional 64 shares during the period. Cranbrook Wealth Management LLC purchased a new position in Workday during the second quarter valued at approximately $128,000. Edgestream Partners L.P. increased its holdings in Workday by 31.5% during the 2nd quarter. Edgestream Partners L.P. now owns 19,363 shares of the software maker’s stock worth $4,329,000 after acquiring an additional 4,639 shares during the period. Finally, Lmcg Investments LLC lifted its stake in Workday by 0.8% in the 2nd quarter. Lmcg Investments LLC now owns 19,518 shares of the software maker’s stock worth $4,363,000 after purchasing an additional 155 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $223.80, for a total value of $12,532,800.00. Following the completion of the sale, the insider now directly owns 674,000 shares in the company, valued at $150,841,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Workday news, major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $223.89, for a total value of $17,525,885.31. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at $23,059,998.33. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $223.80, for a total transaction of $12,532,800.00. Following the sale, the insider now owns 674,000 shares in the company, valued at approximately $150,841,200. The disclosure for this sale can be found here. Insiders have sold 467,402 shares of company stock worth $109,864,184 over the last 90 days. 20.00% of the stock is owned by company insiders.

Workday Price Performance

Shares of WDAY stock opened at $248.29 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The firm has a market cap of $65.80 billion, a P/E ratio of 44.74, a P/E/G ratio of 5.07 and a beta of 1.35. The business’s 50 day moving average price is $237.48 and its 200-day moving average price is $242.30.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the business posted $0.40 earnings per share. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, equities research analysts anticipate that Workday, Inc. will post 2.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WDAY shares. DA Davidson upped their price target on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Citigroup lowered their price target on Workday from $293.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Piper Sandler reissued an “overweight” rating and set a $285.00 price objective on shares of Workday in a report on Wednesday. Royal Bank of Canada lowered their target price on shares of Workday from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Finally, KeyCorp increased their price target on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and a consensus price target of $286.48.

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.