Sumitomo Mitsui Trust Holdings Inc. Lowers Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Sumitomo Mitsui Trust Holdings Inc. decreased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 0.5% during the first quarter, Holdings Channel reports. The institutional investor owned 548,654 shares of the software maker’s stock after selling 2,483 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Workday were worth $149,645,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WDAY. Vanguard Group Inc. lifted its stake in Workday by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock worth $3,988,549,000 after purchasing an additional 437,215 shares in the last quarter. Norges Bank purchased a new stake in Workday in the 4th quarter worth $1,491,149,000. Wellington Management Group LLP lifted its stake in Workday by 37.4% in the 3rd quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock worth $1,109,348,000 after purchasing an additional 1,406,153 shares in the last quarter. Morgan Stanley lifted its stake in Workday by 47.0% in the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after purchasing an additional 872,288 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Workday by 8.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,629,780 shares of the software maker’s stock worth $564,976,000 after purchasing an additional 206,112 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Workday stock traded down $0.27 during mid-day trading on Wednesday, reaching $226.49. 310,654 shares of the company traded hands, compared to its average volume of 2,206,053. The company has a market capitalization of $60.02 billion, a price-to-earnings ratio of 40.87, a price-to-earnings-growth ratio of 5.64 and a beta of 1.35. Workday, Inc. has a fifty-two week low of $202.01 and a fifty-two week high of $311.28. The firm’s fifty day moving average is $231.32 and its two-hundred day moving average is $262.55. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 5.78%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 earnings per share. On average, equities research analysts expect that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

WDAY has been the topic of several research analyst reports. DA Davidson decreased their price target on shares of Workday from $300.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Stifel Nicolaus reduced their target price on shares of Workday from $290.00 to $250.00 and set a “hold” rating on the stock in a report on Friday, May 24th. Evercore ISI reduced their target price on shares of Workday from $350.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. Citigroup reduced their target price on shares of Workday from $293.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Finally, BMO Capital Markets reduced their target price on shares of Workday from $338.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $282.11.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 82,762 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $210.28, for a total transaction of $17,403,193.36. Following the sale, the insider now owns 102,997 shares in the company, valued at $21,658,209.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder David A. Duffield sold 82,762 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $210.28, for a total transaction of $17,403,193.36. Following the sale, the insider now owns 102,997 shares in the company, valued at $21,658,209.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 78,279 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the sale, the insider now owns 102,997 shares in the company, valued at approximately $23,059,998.33. The disclosure for this sale can be found here. Insiders have sold 518,830 shares of company stock worth $121,906,588 over the last 90 days. 20.00% of the stock is currently owned by company insiders.

Workday Company 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.