Korea Investment CORP Has $48.39 Million Holdings in Workday, Inc. (NASDAQ:WDAY)

Korea Investment CORP decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 4.1% in the 4th quarter, Holdings Channel reports. The fund owned 187,528 shares of the software maker’s stock after selling 8,053 shares during the period. Korea Investment CORP’s holdings in Workday were worth $48,388,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after purchasing an additional 4,517,272 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after acquiring an additional 480,459 shares during the last quarter. State Street Corp lifted its holdings in shares of Workday by 1.4% during the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after purchasing an additional 67,380 shares during the period. Geode Capital Management LLC grew its stake in shares of Workday by 2.7% in the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after purchasing an additional 76,618 shares during the last quarter. Finally, Parnassus Investments LLC grew its stake in shares of Workday by 562.2% in the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after purchasing an additional 2,078,097 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 70,144 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $250.26, for a total value of $17,554,237.44. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at $25,776,029.22. This represents a 40.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the sale, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 487,145 shares of company stock valued at $123,289,438. Corporate insiders own 20.00% of the company’s stock.

Workday Trading Down 2.5 %

Shares of Workday stock opened at $244.55 on Friday. The company has a market capitalization of $65.05 billion, a P/E ratio of 40.56, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The stock has a fifty day simple moving average of $256.89 and a 200 day simple moving average of $254.93. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. On average, sell-side analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on WDAY. Daiwa America raised Workday to a “strong-buy” rating in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Oppenheimer increased their target price on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. JMP Securities restated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research report on Thursday, February 6th. Finally, Canaccord Genuity Group increased their price objective on shares of Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $300.36.

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.