Mirae Asset Global Investments Co. Ltd. Has $26.07 Million Stake in Workday, Inc. $WDAY

Mirae Asset Global Investments Co. Ltd. grew its holdings in Workday, Inc. (NASDAQ:WDAY) by 14.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,279 shares of the software maker’s stock after acquiring an additional 13,699 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Workday were worth $26,066,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of WDAY. Rakuten Securities Inc. acquired a new stake in Workday during the 2nd quarter worth approximately $25,000. Berbice Capital Management LLC increased its holdings in Workday by 136.4% during the 2nd quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock worth $31,000 after purchasing an additional 75 shares in the last quarter. Golden State Wealth Management LLC raised its stake in shares of Workday by 2,216.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock valued at $33,000 after purchasing an additional 133 shares during the period. Root Financial Partners LLC bought a new stake in shares of Workday in the third quarter valued at about $40,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Workday in the second quarter valued at about $41,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In related news, CFO Zane Rowe sold 6,000 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $208.75, for a total value of $1,252,500.00. Following the sale, the chief financial officer owned 159,158 shares in the company, valued at approximately $33,224,232.50. This represents a 3.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Enslin sold 22,185 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $210.17, for a total transaction of $4,662,621.45. Following the completion of the transaction, the insider directly owned 106,330 shares in the company, valued at $22,347,376.10. The trade was a 17.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 370,321 shares of company stock worth $78,866,401 in the last three months. 19.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WDAY. Stifel Nicolaus dropped their target price on Workday from $255.00 to $235.00 and set a “hold” rating on the stock in a research report on Wednesday, November 26th. Royal Bank Of Canada lowered their price objective on shares of Workday from $320.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. TD Cowen reissued a “buy” rating on shares of Workday in a research report on Wednesday, November 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 target price on shares of Workday in a research report on Wednesday, November 26th. Finally, UBS Group set a $260.00 price target on shares of Workday in a research note on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $278.09.

Workday Price Performance

Shares of WDAY opened at $174.66 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $209.36 and its 200 day simple moving average is $223.83. Workday, Inc. has a 1-year low of $169.01 and a 1-year high of $283.68. The company has a market cap of $45.94 billion, a price-to-earnings ratio of 73.39, a PEG ratio of 2.13 and a beta of 1.14.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.15. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.42 billion. Workday had a net margin of 6.95% and a return on equity of 10.50%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.89 EPS. On average, research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

About Workday

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.