Public Employees Retirement Association of Colorado Has $6.61 Million Stake in Workday, Inc. (NASDAQ:WDAY)

Public Employees Retirement Association of Colorado lessened its holdings in Workday, Inc. (NASDAQ:WDAY) by 1.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 29,546 shares of the software maker’s stock after selling 513 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Workday were worth $6,605,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Carolinas Wealth Consulting LLC boosted its stake in shares of Workday by 9.7% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock worth $106,000 after buying an additional 34 shares during the last quarter. Congress Wealth Management LLC DE increased its holdings in shares of Workday by 2.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 1,658 shares of the software maker’s stock worth $458,000 after purchasing an additional 39 shares during the period. Raleigh Capital Management Inc. increased its holdings in shares of Workday by 4.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 869 shares of the software maker’s stock worth $240,000 after purchasing an additional 39 shares during the period. Hudson Value Partners LLC grew its position in Workday by 0.8% in the fourth quarter. Hudson Value Partners LLC now owns 5,135 shares of the software maker’s stock worth $1,418,000 after acquiring an additional 40 shares in the last quarter. Finally, D.A. Davidson & CO. grew its position in Workday by 3.5% in the fourth quarter. D.A. Davidson & CO. now owns 1,241 shares of the software maker’s stock worth $343,000 after acquiring an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Up 0.3 %

Shares of WDAY stock opened at $248.29 on Friday. The company has a market capitalization of $65.80 billion, a price-to-earnings ratio of 44.74, a PEG ratio of 5.07 and a beta of 1.35. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The company’s fifty day moving average price is $237.48 and its 200-day moving average price is $242.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. Workday’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. Sell-side analysts expect that Workday, Inc. will post 2.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on WDAY shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Barclays increased their price target on shares of Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Evercore ISI decreased their target price on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Morgan Stanley decreased their target price on shares of Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Finally, The Goldman Sachs Group raised their price target on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $286.48.

Insider Activity

In other news, major shareholder David A. Duffield sold 78,279 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $23,059,998.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder David A. Duffield sold 78,279 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $23,059,998.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $223.80, for a total transaction of $12,532,800.00. Following the transaction, the insider now owns 674,000 shares in the company, valued at $150,841,200. The disclosure for this sale can be found here. In the last three months, insiders have sold 467,402 shares of company stock worth $109,864,184. 20.00% of the stock is currently owned by corporate insiders.

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.