Workday, Inc. (NASDAQ:WDAY) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its position in Workday, Inc. (NASDAQ:WDAY) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,006 shares of the software maker’s stock after selling 580 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Workday were worth $7,484,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Roxbury Financial LLC purchased a new stake in Workday during the fourth quarter worth about $25,000. Crews Bank & Trust purchased a new stake in Workday during the 4th quarter worth approximately $26,000. Avion Wealth boosted its position in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after buying an additional 86 shares during the period. TCTC Holdings LLC purchased a new position in Workday in the 4th quarter valued at approximately $35,000. Finally, Rakuten Securities Inc. increased its position in shares of Workday by 78.6% during the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock worth $39,000 after acquiring an additional 66 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on WDAY shares. DA Davidson reduced their target price on shares of Workday from $270.00 to $230.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and raised their price objective for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price objective on shares of Workday in a research report on Monday, March 24th. Stifel Nicolaus increased their target price on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group lifted their price target on Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $292.86.

Workday Stock Performance

NASDAQ:WDAY opened at $239.82 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a market cap of $63.79 billion, a PE ratio of 39.77, a P/E/G ratio of 3.55 and a beta of 1.32. The firm has a 50 day simple moving average of $240.31 and a 200-day simple moving average of $251.89. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. On average, equities analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 66,455 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $259.52, for a total value of $17,246,401.60. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,729,781.44. This represents a 39.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Carl M. Eschenbach sold 3,125 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total transaction of $733,156.25. Following the sale, the chief executive officer now directly owns 10,847 shares in the company, valued at $2,544,814.67. This trade represents a 22.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 321,724 shares of company stock valued at $77,976,126. Company insiders own 20.00% of the company’s stock.

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.