Arizona State Retirement System Has $14.66 Million Stake in Workday, Inc. (NASDAQ:WDAY)

Arizona State Retirement System lifted its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,767 shares of the software maker's stock after buying an additional 1,793 shares during the period. Arizona State Retirement System's holdings in Workday were worth $14,658,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WDAY. AllSquare Wealth Management LLC boosted its position in Workday by 19.4% during the 4th quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker's stock worth $65,000 after purchasing an additional 41 shares during the period. Private Trust Co. NA boosted its position in Workday by 15.2% during the 1st quarter. Private Trust Co. NA now owns 318 shares of the software maker's stock worth $74,000 after purchasing an additional 42 shares during the period. CreativeOne Wealth LLC boosted its position in Workday by 1.5% during the 4th quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker's stock worth $745,000 after purchasing an additional 43 shares during the period. Salvus Wealth Management LLC boosted its position in Workday by 2.8% during the 1st quarter. Salvus Wealth Management LLC now owns 1,658 shares of the software maker's stock worth $387,000 after purchasing an additional 45 shares during the period. Finally, Ashton Thomas Securities LLC boosted its position in Workday by 3.2% during the 4th quarter. Ashton Thomas Securities LLC now owns 1,494 shares of the software maker's stock worth $385,000 after purchasing an additional 46 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the transaction, the director owned 67,500 shares in the company, valued at $16,767,675. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 73,971 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $238.66, for a total transaction of $17,653,918.86. Following the transaction, the insider owned 102,997 shares in the company, valued at $24,581,264.02. This represents a 41.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 328,554 shares of company stock worth $79,097,601 over the last ninety days. Insiders own 20.00% of the company's stock.

Workday Stock Performance

Shares of NASDAQ:WDAY traded up $1.44 during trading hours on Monday, hitting $224.81. The stock had a trading volume of 618,439 shares, compared to its average volume of 2,268,209. The stock's fifty day simple moving average is $248.29 and its 200 day simple moving average is $248.22. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The firm has a market capitalization of $60.03 billion, a price-to-earnings ratio of 124.21, a PEG ratio of 3.38 and a beta of 1.21. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, beating the consensus estimate of $2.01 by $0.22. Workday had a net margin of 5.60% and a return on equity of 8.00%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the business earned $1.74 earnings per share. Workday's revenue was up 12.6% compared to the same quarter last year. Sell-side analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on WDAY shares. Oppenheimer decreased their price target on shares of Workday from $320.00 to $300.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. JPMorgan Chase & Co. decreased their price target on shares of Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Mizuho decreased their price objective on shares of Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. DA Davidson upped their price objective on shares of Workday from $230.00 to $250.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Finally, Westpark Capital upped their price objective on shares of Workday from $315.00 to $328.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $296.88.

About Workday

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.