AIA Group Ltd Raises Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

AIA Group Ltd raised its position in shares of Workday, Inc. (NASDAQ:WDAY) by 12.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,265 shares of the software maker’s stock after buying an additional 2,732 shares during the quarter. AIA Group Ltd’s holdings in Workday were worth $5,931,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its stake in shares of Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after buying an additional 1,016,394 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Workday by 17,345.2% in the second quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock worth $208,068,000 after acquiring an additional 925,366 shares in the last quarter. 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 worth $4,029,244,000 after acquiring an additional 324,540 shares in the last quarter. D1 Capital Partners L.P. grew its stake in shares of Workday by 152.1% in the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock worth $115,804,000 after acquiring an additional 312,500 shares during the last quarter. Finally, Sustainable Growth Advisers LP increased its holdings 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 valued at $927,998,000 after acquiring an additional 301,463 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Loop Capital upped their price target on shares of Workday from $240.00 to $255.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Canaccord Genuity Group reiterated a “buy” rating and issued a $300.00 target price on shares of Workday in a research note on Friday, September 13th. Bank of America raised their price target on shares of Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. DA Davidson upped their price objective on Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Company lifted their target price on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $287.04.

Workday Price Performance

NASDAQ WDAY opened at $257.98 on Friday. The business’s fifty day moving average is $245.97 and its 200 day moving average is $235.90. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The company has a market capitalization of $68.36 billion, a PE ratio of 44.94, a price-to-earnings-growth ratio of 5.00 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the firm earned $0.40 EPS. The business’s quarterly revenue was up 16.5% on a year-over-year basis. Sell-side analysts predict that Workday, Inc. will post 2.4 earnings per share for the current year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the sale, the insider now directly owns 281,000 shares of the company’s stock, valued at $68,004,810. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $242.01, for a total value of $13,552,560.00. Following the completion of the transaction, the insider now directly owns 281,000 shares in the company, valued at $68,004,810. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 370,575 shares of company stock worth $91,506,897 over the last three months. 20.00% of the stock is currently owned by company insiders.

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.