New York State Common Retirement Fund lowered its stake in shares of Workday, Inc. (NASDAQ:WDAY – Get Rating) by 4.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 330,891 shares of the software maker's stock after selling 15,533 shares during the period. New York State Common Retirement Fund owned approximately 0.13% of Workday worth $50,368,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of WDAY. RB Capital Management LLC lifted its stake in Workday by 2.8% during the 1st quarter. RB Capital Management LLC now owns 2,763 shares of the software maker's stock valued at $662,000 after acquiring an additional 76 shares during the period. Private Advisor Group LLC lifted its stake in shares of Workday by 11.8% in the 1st quarter. Private Advisor Group LLC now owns 2,511 shares of the software maker's stock worth $601,000 after purchasing an additional 265 shares during the period. MetLife Investment Management LLC bought a new position in shares of Workday in the 1st quarter worth approximately $2,974,000. Yousif Capital Management LLC lifted its stake in shares of Workday by 2.7% in the 1st quarter. Yousif Capital Management LLC now owns 2,813 shares of the software maker's stock worth $674,000 after purchasing an additional 74 shares during the period. Finally, Raymond James Trust N.A. lifted its stake in shares of Workday by 10.3% in the 1st quarter. Raymond James Trust N.A. now owns 3,391 shares of the software maker's stock worth $812,000 after purchasing an additional 316 shares during the period. Institutional investors own 66.98% of the company's stock.
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Shares of WDAY opened at $185.33 on Thursday. Workday, Inc. has a twelve month low of $128.72 and a twelve month high of $252.89. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.87 and a quick ratio of 1.87. The company's fifty day simple moving average is $166.93 and its 200-day simple moving average is $159.29.
Workday (NASDAQ:WDAY – Get Rating) last announced its earnings results on Tuesday, November 29th. The software maker reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.18. Workday had a negative net margin of 5.29% and a negative return on equity of 2.11%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The business's revenue for the quarter was up 20.5% on a year-over-year basis. On average, equities research analysts expect that Workday, Inc. will post -0.44 earnings per share for the current year.Workday declared that its Board of Directors has initiated a stock buyback program on Tuesday, November 29th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the software maker to repurchase up to 1.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.
Insider Transactions at Workday
In other news, CFO Barbara A. Larson sold 1,491 shares of the company's stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $161.73, for a total value of $241,139.43. Following the transaction, the chief financial officer now directly owns 75,097 shares in the company, valued at $12,145,437.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO James Bozzini sold 4,389 shares of the company's stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $161.72, for a total value of $709,789.08. Following the transaction, the chief operating officer now directly owns 103,228 shares in the company, valued at $16,694,032.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Barbara A. Larson sold 1,491 shares of the company's stock in a transaction dated Thursday, January 5th. The stock was sold at an average price of $161.73, for a total transaction of $241,139.43. Following the completion of the transaction, the chief financial officer now owns 75,097 shares in the company, valued at $12,145,437.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 119,548 shares of company stock worth $20,795,439. Insiders own 21.74% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of Workday from $235.00 to $223.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 30th. Cowen increased their price objective on shares of Workday from $220.00 to $225.00 in a research note on Friday, December 9th. Barclays increased their price objective on shares of Workday from $198.00 to $203.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 30th. Societe Generale reduced their target price on shares of Workday to $212.00 in a report on Monday, November 28th. Finally, DA Davidson reduced their target price on shares of Workday from $220.00 to $205.00 in a report on Tuesday, November 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $214.47.
Workday Profile
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Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A.
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