Workday, Inc. (NASDAQ:WDAY) Position Trimmed by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,361 shares of the software maker’s stock after selling 1,190 shares during the period. State of Alaska Department of Revenue’s holdings in Workday were worth $5,553,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Workday by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock valued at $3,988,549,000 after purchasing an additional 437,215 shares during the last quarter. Norges Bank acquired a new position in shares of Workday during the fourth quarter valued at $1,491,149,000. Wellington Management Group LLP boosted its holdings in shares of Workday by 37.4% during the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after acquiring an additional 1,406,153 shares during the period. Morgan Stanley increased its holdings in shares of Workday by 47.0% in the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after acquiring an additional 872,288 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Workday by 8.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,629,780 shares of the software maker’s stock valued at $564,976,000 after purchasing an additional 206,112 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. KeyCorp reduced their price objective on Workday from $330.00 to $275.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Loop Capital reduced their price target on Workday from $280.00 to $240.00 and set a “hold” rating for the company in a research report on Friday, May 24th. Morgan Stanley lowered their price target on Workday from $330.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. The Goldman Sachs Group reduced their price objective on shares of Workday from $310.00 to $300.00 and set a “buy” rating for the company in a report on Friday, May 24th. Finally, DA Davidson lowered their target price on shares of Workday from $300.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $282.11.

Insider Activity

In related news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $223.80, for a total transaction of $12,532,800.00. Following the transaction, the insider now directly owns 674,000 shares of the company’s stock, valued at $150,841,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Workday news, insider Richard Harry Sauer sold 8,447 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $268.21, for a total value of $2,265,569.87. Following the completion of the sale, the insider now owns 66,356 shares in the company, valued at approximately $17,797,342.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on 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 sale, the insider now directly owns 674,000 shares of the company’s stock, valued at approximately $150,841,200. The disclosure for this sale can be found here. Insiders sold 518,830 shares of company stock worth $121,906,588 over the last quarter. Corporate insiders own 20.00% of the company’s stock.

Workday Price Performance

WDAY stock opened at $225.55 on Thursday. The firm has a 50-day moving average of $231.32 and a two-hundred day moving average of $262.55. The firm has a market capitalization of $59.77 billion, a PE ratio of 40.64, a P/E/G ratio of 5.71 and a beta of 1.35. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.37. Workday, Inc. has a one year low of $202.01 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, beating the consensus estimate of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the firm earned $0.16 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. On average, analysts forecast that Workday, Inc. will post 2.12 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.