Arizona State Retirement System Boosts Holdings in Workday, Inc. (NASDAQ:WDAY)

Arizona State Retirement System boosted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,974 shares of the software maker’s stock after buying an additional 203 shares during the quarter. Arizona State Retirement System’s holdings in Workday were worth $15,733,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Roxbury Financial LLC purchased a new position in Workday during the fourth quarter worth $25,000. Capital Performance Advisors LLP purchased a new position in Workday during the third quarter worth $26,000. Crews Bank & Trust purchased a new position in Workday during the fourth quarter worth $26,000. Avion Wealth boosted its stake in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares during the period. Finally, Meeder Asset Management Inc. boosted its stake in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley lowered shares of Workday from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $330.00 to $275.00 in a research note on Wednesday, February 19th. JPMorgan Chase & Co. boosted their target price on shares of Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Oppenheimer boosted their target price on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Mizuho boosted their target price on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Canaccord Genuity Group boosted their target price on shares of Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Workday has a consensus rating of “Moderate Buy” and a consensus price target of $302.14.

Insider Activity

In related news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $265.70, for a total value of $14,879,200.00. Following the sale, the insider now owns 228,000 shares in the company, valued at $60,579,600. This represents a 19.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the sale, the chief executive officer now owns 13,972 shares in the company, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 435,829 shares of company stock worth $113,033,319 over the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

Workday Stock Performance

WDAY opened at $259.61 on Thursday. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market cap of $69.06 billion, a P/E ratio of 43.05, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. The firm’s 50-day moving average price is $258.98 and its 200-day moving average price is $255.49.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data 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 net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. As a group, equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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.