Workday, Inc. $WDAY Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama cut its position in shares of Workday, Inc. (NASDAQ:WDAY) by 92.2% in the third quarter, HoldingsChannel reports. The firm owned 42,151 shares of the software maker’s stock after selling 498,137 shares during the period. Retirement Systems of Alabama’s holdings in Workday were worth $8,028,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Pictet Asset Management Holding SA grew its position in shares of Workday by 7.6% during the 3rd quarter. Pictet Asset Management Holding SA now owns 3,033,026 shares of the software maker’s stock worth $577,639,000 after buying an additional 213,618 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Workday by 9.6% during the first quarter. First Trust Advisors LP now owns 1,416,176 shares of the software maker’s stock valued at $183,990,000 after buying an additional 124,524 shares during the period. Tidal Investments LLC increased its stake in shares of Workday by 43.6% during the second quarter. Tidal Investments LLC now owns 1,439,456 shares of the software maker’s stock valued at $176,218,000 after buying an additional 437,175 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Workday by 60.4% in the first quarter. Pacer Advisors Inc. now owns 1,227,051 shares of the software maker’s stock valued at $159,418,000 after acquiring an additional 462,002 shares in the last quarter. Finally, Temasek Holdings Private Ltd raised its holdings in shares of Workday by 9.5% in the first quarter. Temasek Holdings Private Ltd now owns 889,318 shares of the software maker’s stock valued at $115,540,000 after acquiring an additional 77,330 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In other Workday news, major shareholder David Duffield sold 100,780 shares of Workday stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $185.64, for a total value of $18,708,799.20. Following the transaction, the insider owned 105,049 shares in the company, valued at $19,501,296.36. The trade was a 48.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 988,104 shares of company stock valued at $188,811,574 in the last 90 days. 18.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

WDAY has been the subject of a number of research reports. Sanford C. Bernstein upped their price objective on shares of Workday from $216.00 to $238.00 and gave the stock an “outperform” rating in a research note on Friday, August 28th. Guggenheim reiterated a “buy” rating and set a $275.00 target price (down from $285.00) on shares of Workday in a report on Friday, August 21st. Loop Capital raised their target price on shares of Workday from $135.00 to $200.00 and gave the company a “hold” rating in a research report on Friday, August 21st. BTIG Research restated a “neutral” rating on shares of Workday in a report on Friday, October 16th. Finally, Robert W. Baird boosted their price target on shares of Workday from $190.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Twenty-two equities research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $202.10.

Workday Stock Up 3.0%

Shares of NASDAQ:WDAY traded up $5.81 on Friday, reaching $196.45. The company had a trading volume of 1,730,934 shares, compared to its average volume of 2,147,996. The firm has a market capitalization of $47.34 billion, a PE ratio of 39.85, a PEG ratio of 1.92 and a beta of 1.02. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $236.80. The firm’s 50 day simple moving average is $193.31 and its 200-day simple moving average is $156.57.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.14. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 EPS. As a group, analysts expect that Workday, Inc. will post 5.32 earnings per share for the current fiscal year.

Workday Company Profile

Workday, Inc. develops cloud-based software for managing human resources, finance and business operations. Its products include Workday Human Capital Management, Workday Financial Management and Workday Adaptive Planning, which help organizations manage areas such as workforce administration, accounting, budgeting and forecasting. Founded in 2005 by Dave Duffield and Aneel Bhusri, Workday serves businesses, governments and educational institutions across a range of industries. Its operations and customer base extend across North America and international markets.