Workday, Inc. (NASDAQ:WDAY) Shares Sold by Arizona State Retirement System

Arizona State Retirement System lowered its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 0.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,237 shares of the software maker’s stock after selling 72 shares during the quarter. Arizona State Retirement System’s holdings in Workday were worth $16,077,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Workday by 1.9% during the third quarter. Vanguard Group Inc. now owns 14,010,910 shares of the software maker’s stock valued at $3,010,244,000 after buying an additional 263,994 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Workday by 37.4% in the 3rd quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after purchasing an additional 1,406,153 shares during the period. State Street Corp grew its stake in shares of Workday by 0.5% in the 2nd quarter. State Street Corp now owns 4,293,651 shares of the software maker’s stock valued at $969,893,000 after purchasing an additional 22,929 shares during the period. Polen Capital Management LLC grew its position in Workday by 2.0% during the 3rd quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker’s stock worth $848,726,000 after acquiring an additional 78,352 shares during the last quarter. Finally, Norges Bank bought a new position in Workday in the 4th quarter valued at $600,504,000. Institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

WDAY has been the topic of several research analyst reports. The Goldman Sachs Group raised their price objective on Workday from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Morgan Stanley decreased their price objective on Workday from $335.00 to $330.00 and set an “overweight” rating for the company in a report on Tuesday, February 27th. KeyCorp raised their price objective on Workday from $310.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Piper Sandler restated an “overweight” rating and issued a $330.00 price objective on shares of Workday in a report on Monday, February 26th. Finally, Wells Fargo & Company lifted their price target on Workday from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $293.61.

Workday Trading Down 0.8 %

Shares of Workday stock traded down $2.05 on Friday, reaching $267.03. The company had a trading volume of 278,670 shares, compared to its average volume of 1,812,903. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The firm has a market cap of $70.50 billion, a PE ratio of 52.25, a PEG ratio of 6.72 and a beta of 1.32. The firm’s 50 day moving average price is $285.17 and its two-hundred day moving average price is $259.67. Workday, Inc. has a 52-week low of $174.25 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the business posted ($0.14) earnings per share. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. Sell-side analysts predict that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other Workday news, insider Douglas A. Robinson sold 411 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total transaction of $109,695.90. Following the completion of the transaction, the insider now owns 165,521 shares in the company, valued at approximately $44,177,554.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the transaction, the insider now owns 165,932 shares in the company, valued at approximately $48,749,162.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas A. Robinson sold 411 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total transaction of $109,695.90. Following the completion of the sale, the insider now directly owns 165,521 shares of the company’s stock, valued at $44,177,554.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 446,383 shares of company stock worth $122,469,283. 21.09% of the stock is currently owned by 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.