The Manufacturers Life Insurance Company Acquires 14,159 Shares of Workday, Inc. (NASDAQ:WDAY)

The Manufacturers Life Insurance Company boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,316,167 shares of the software maker’s stock after purchasing an additional 14,159 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.87% of Workday worth $566,094,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. grew its position in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in Workday by 0.9% during the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock valued at $1,243,000 after buying an additional 43 shares during the last quarter. Diversified Trust Co increased its stake in Workday by 1.0% in the 2nd quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock worth $1,080,000 after acquiring an additional 47 shares during the last quarter. Opal Wealth Advisors LLC raised its holdings in shares of Workday by 5.2% during the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after acquiring an additional 47 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. boosted its position in shares of Workday by 3.4% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock valued at $324,000 after acquiring an additional 48 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Price Performance

Shares of WDAY stock opened at $267.69 on Tuesday. The company has a market cap of $70.94 billion, a P/E ratio of 46.64, a PEG ratio of 5.31 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The stock’s 50-day moving average is $248.08 and its 200 day moving average is $237.05. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28.

Insider Transactions at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 90,000 shares in the company, valued at $22,990,500. The trade was a 7.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction dated 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 sale, the director now owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. This trade represents a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 359,954 shares of company stock valued at $88,742,132 in the last 90 days. Insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. KeyCorp upped their target price on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Barclays lifted their price target on Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Bank of America upped their price objective on Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Scotiabank started coverage on Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $289.46.

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.