Daiwa Securities Group Inc. Buys 3,647 Shares of Workday, Inc. $WDAY

Daiwa Securities Group Inc. grew its stake in Workday, Inc. (NASDAQ:WDAY) by 6.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,600 shares of the software maker’s stock after purchasing an additional 3,647 shares during the period. Daiwa Securities Group Inc.’s holdings in Workday were worth $12,371,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Finivi Inc. lifted its stake in shares of Workday by 3.3% in the 3rd quarter. Finivi Inc. now owns 1,516 shares of the software maker’s stock valued at $365,000 after purchasing an additional 48 shares during the last quarter. Strategic Investment Advisors MI lifted its stake in shares of Workday by 1.6% in the 2nd quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker’s stock valued at $777,000 after purchasing an additional 50 shares during the last quarter. Legacy Financial Advisors Inc. lifted its stake in shares of Workday by 5.1% in the 3rd quarter. Legacy Financial Advisors Inc. now owns 1,113 shares of the software maker’s stock valued at $268,000 after purchasing an additional 54 shares during the last quarter. Sagespring Wealth Partners LLC lifted its stake in shares of Workday by 3.0% in the 4th quarter. Sagespring Wealth Partners LLC now owns 2,052 shares of the software maker’s stock valued at $441,000 after purchasing an additional 59 shares during the last quarter. Finally, CVA Family Office LLC lifted its stake in shares of Workday by 35.3% in the 4th quarter. CVA Family Office LLC now owns 249 shares of the software maker’s stock valued at $53,000 after purchasing an additional 65 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Insider Activity at Workday

In related news, CAO Mark S. Garfield sold 1,585 shares of the firm’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $113.05, for a total transaction of $179,184.25. Following the sale, the chief accounting officer owned 31,467 shares of the company’s stock, valued at $3,557,344.35. This trade represents a 4.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 9,356 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total value of $1,201,216.84. Following the sale, the insider directly owned 165,074 shares in the company, valued at approximately $21,193,850.86. The trade was a 5.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 774,814 shares of company stock valued at $101,308,591 over the last 90 days. Company insiders own 18.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WDAY shares. Jefferies Financial Group raised their price objective on Workday from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Friday, May 22nd. Stifel Nicolaus set a $175.00 price objective on Workday in a research note on Monday, February 9th. Weiss Ratings lowered Workday from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 20th. Robert W. Baird set a $195.00 price target on Workday in a research note on Tuesday, February 24th. Finally, Barclays raised Workday from an “overweight” rating to a “buy” rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $185.03.

Workday Trading Down 2.5%

Shares of NASDAQ:WDAY opened at $144.28 on Friday. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $257.09. The business’s fifty day simple moving average is $127.25 and its 200-day simple moving average is $163.05. The company has a market capitalization of $35.64 billion, a PE ratio of 45.09, a P/E/G ratio of 1.59 and a beta of 1.09. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the company earned $2.23 earnings per share. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, equities research analysts predict that Workday, Inc. will post 5.41 earnings per share for the current fiscal year.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.