Workday, Inc. $WDAY Position Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 2.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 254,700 shares of the software maker’s stock after purchasing an additional 5,200 shares during the period. New York State Common Retirement Fund’s holdings in Workday were worth $61,314,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in Workday in the second quarter worth approximately $442,702,000. AQR Capital Management LLC boosted its holdings in shares of Workday by 415.6% during the 2nd quarter. AQR Capital Management LLC now owns 675,148 shares of the software maker’s stock worth $162,036,000 after buying an additional 544,192 shares during the period. Rakuten Investment Management Inc. bought a new stake in Workday during the third quarter valued at about $124,718,000. Vanguard Group Inc. boosted its stake in Workday by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock valued at $5,067,404,000 after purchasing an additional 515,529 shares during the period. Finally, Fernbridge Capital Management LP boosted its position in shares of Workday by 58.6% in the second quarter. Fernbridge Capital Management LP now owns 1,241,380 shares of the software maker’s stock valued at $297,931,000 after acquiring an additional 458,598 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Workday in a report on Wednesday, November 26th. BTIG Research initiated coverage on shares of Workday in a research note on Tuesday, December 16th. They issued a “buy” rating and a $285.00 target price for the company. Macquarie restated a “buy” rating on shares of Workday in a research note on Wednesday, November 26th. Royal Bank Of Canada cut their price target on Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, January 5th. Finally, TD Cowen reiterated a “buy” rating on shares of Workday in a research report on Wednesday, November 26th. Two research 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 data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $278.09.

Workday Stock Down 7.6%

NASDAQ WDAY opened at $174.66 on Friday. Workday, Inc. has a 1-year low of $169.01 and a 1-year high of $283.68. The company has a market capitalization of $45.94 billion, a price-to-earnings ratio of 73.39, a PEG ratio of 2.13 and a beta of 1.14. The stock’s 50 day moving average is $209.36 and its two-hundred day moving average is $223.83. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.15. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Workday had a return on equity of 10.50% and a net margin of 6.95%.Workday’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.89 EPS. Equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity

In other Workday news, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction on Monday, January 5th. The stock was sold at an average price of $210.00, for a total transaction of $656,250.00. Following the completion of the transaction, the chief executive officer directly owned 17,097 shares of the company’s stock, valued at approximately $3,590,370. This trade represents a 15.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Enslin sold 22,185 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $210.17, for a total transaction of $4,662,621.45. Following the completion of the sale, the insider directly owned 106,330 shares in the company, valued at approximately $22,347,376.10. The trade was a 17.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 370,321 shares of company stock valued at $78,866,401. 19.31% of the stock is owned by company insiders.

Workday Company Profile

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.