Arizona State Retirement System Has $13.68 Million Stock Position in Workday, Inc. (NASDAQ:WDAY)

Arizona State Retirement System grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,170 shares of the software maker’s stock after acquiring an additional 1,194 shares during the period. Arizona State Retirement System’s holdings in Workday were worth $13,675,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Van ECK Associates Corp boosted its stake in Workday by 1.9% in the 4th quarter. Van ECK Associates Corp now owns 5,230 shares of the software maker’s stock valued at $1,444,000 after purchasing an additional 98 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in Workday by 3,416.1% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,090 shares of the software maker’s stock worth $301,000 after buying an additional 1,059 shares in the last quarter. Axxcess Wealth Management LLC bought a new position in Workday during the 4th quarter worth $219,000. Apollon Wealth Management LLC raised its holdings in Workday by 40.1% in the 4th quarter. Apollon Wealth Management LLC now owns 2,151 shares of the software maker’s stock valued at $594,000 after acquiring an additional 616 shares in the last quarter. Finally, Montag A & Associates Inc. lifted its position in shares of Workday by 7.1% during the 4th quarter. Montag A & Associates Inc. now owns 3,747 shares of the software maker’s stock valued at $1,034,000 after acquiring an additional 248 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $218.58, for a total value of $12,240,480.00. Following the completion of the transaction, the insider now owns 730,000 shares in the company, valued at $159,563,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the sale, the insider now owns 102,997 shares in the company, valued at $26,902,816.40. The disclosure for this sale can be found here. Insiders have sold a total of 515,902 shares of company stock worth $117,998,849 over the last three months. 20.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of recent analyst reports. Sanford C. Bernstein decreased their price target on Workday from $321.00 to $301.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. JMP Securities reissued a “market outperform” rating and issued a $315.00 target price on shares of Workday in a report on Friday, May 24th. Evercore ISI cut their price target on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Jefferies Financial Group decreased their price objective on shares of Workday from $350.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Finally, Loop Capital raised their target price on Workday from $240.00 to $255.00 and gave the company a “hold” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $288.15.

Workday Stock Down 0.5 %

Shares of NASDAQ:WDAY opened at $254.60 on Friday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The company has a market capitalization of $67.47 billion, a PE ratio of 45.87, a price-to-earnings-growth ratio of 5.56 and a beta of 1.35. The business has a fifty day moving average price of $232.56 and a two-hundred day moving average price of $245.51. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the firm earned $0.40 EPS. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. Analysts forecast that Workday, Inc. will post 2.27 earnings per share for the current 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.