Nomura Asset Management Co. Ltd. Increases Stake in Workday, Inc. (NASDAQ:WDAY)

Nomura Asset Management Co. Ltd. lifted its position in Workday, Inc. (NASDAQ:WDAY) by 23.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 78,156 shares of the software maker’s stock after acquiring an additional 14,861 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Workday were worth $19,102,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in Workday in the 3rd quarter valued at approximately $26,000. SouthState Corp raised its stake in shares of Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after purchasing an additional 129 shares during the last quarter. Crewe Advisors LLC lifted its holdings in shares of Workday by 56.6% during the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after purchasing an additional 56 shares in the last quarter. Goodman Advisory Group LLC purchased a new stake in shares of Workday during the second quarter valued at $35,000. Finally, Meeder Asset Management Inc. increased its holdings in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price target on shares of Workday in a report on Monday, November 25th. Bank of America dropped their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Loop Capital decreased their target price on shares of Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Piper Sandler restated a “neutral” rating and issued a $270.00 price target (down from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Finally, Oppenheimer reiterated an “outperform” rating and set a $300.00 price objective on shares of Workday in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.21.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 70,003 shares of Workday stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total value of $17,584,753.60. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $25,872,846.40. This trade represents a 40.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Wayne A.I. Frederick sold 1,828 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the sale, the director now owns 8,674 shares in the company, valued at $2,097,806.90. This represents a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 361,463 shares of company stock worth $88,422,088 in the last quarter. 20.00% of the stock is owned by corporate insiders.

Workday Price Performance

WDAY stock opened at $270.88 on Wednesday. The company has a market capitalization of $71.78 billion, a PE ratio of 44.92, a price-to-earnings-growth ratio of 4.91 and a beta of 1.34. The company’s fifty day moving average price is $251.13 and its 200-day moving average price is $237.53. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. The business’s revenue was up 15.8% on a year-over-year basis. On average, equities analysts anticipate that Workday, Inc. will post 2.58 EPS for the current fiscal year.

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.