Workday, Inc. (NASDAQ:WDAY) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its position in Workday, Inc. (NASDAQ:WDAY) by 52.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,621 shares of the software maker’s stock after selling 8,440 shares during the quarter. State of Alaska Department of Revenue’s holdings in Workday were worth $1,862,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in Workday by 79.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after purchasing an additional 1,016,394 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Workday by 17,345.2% during the second quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock worth $208,068,000 after buying an additional 925,366 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Workday by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after buying an additional 324,540 shares during the last quarter. D1 Capital Partners L.P. raised its position in shares of Workday by 152.1% in the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock valued at $115,804,000 after buying an additional 312,500 shares during the last quarter. Finally, Sustainable Growth Advisers LP lifted its stake in shares of Workday by 9.7% during the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after buying an additional 301,463 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Citigroup lowered their price objective on Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. KeyCorp lifted their price target on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. BMO Capital Markets reiterated an “outperform” rating and set a $300.00 price objective on shares of Workday in a report on Wednesday, September 18th. The Goldman Sachs Group boosted their target price on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Stifel Nicolaus boosted their price target on Workday from $250.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and an average target price of $287.04.

Insiders Place Their Bets

In other news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.29, for a total transaction of $812,365.09. Following the transaction, the insider now directly owns 196,344 shares of the company’s stock, valued at approximately $51,106,379.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the completion of the transaction, the insider now directly owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.29, for a total value of $812,365.09. Following the completion of the sale, the insider now directly owns 196,344 shares in the company, valued at $51,106,379.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 370,575 shares of company stock worth $91,506,897. 20.00% of the stock is owned by company insiders.

Workday Price Performance

Shares of WDAY opened at $239.12 on Friday. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The stock has a fifty day moving average price of $246.99 and a 200 day moving average price of $236.26. The company has a market cap of $63.37 billion, a P/E ratio of 41.66, a PEG ratio of 4.73 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $2.07 billion. During the same quarter last year, the business earned $0.40 earnings per share. Workday’s revenue was up 16.5% compared to the same quarter last year. On average, research analysts forecast that Workday, Inc. will post 2.4 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.