South Dakota Investment Council Buys New Position in Workday, Inc. $WDAY

South Dakota Investment Council purchased a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,300 shares of the software maker's stock, valued at approximately $948,000.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Workday by 14.7% in the fourth quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker's stock valued at $5,371,495,000 after purchasing an additional 3,210,232 shares during the last quarter. Auto Owners Insurance Co boosted its holdings in Workday by 25,412.8% during the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker's stock worth $2,197,332,000 after purchasing an additional 10,190,516 shares during the last quarter. State Street Corp grew its position in Workday by 1.0% in the 4th quarter. State Street Corp now owns 9,770,707 shares of the software maker's stock worth $2,098,552,000 after purchasing an additional 96,139 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Workday by 47.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker's stock worth $1,406,463,000 after purchasing an additional 1,882,391 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Workday by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker's stock valued at $1,089,970,000 after buying an additional 75,922 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Up 1.4%

Shares of NASDAQ WDAY opened at $160.34 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The company has a market cap of $39.60 billion, a P/E ratio of 50.11, a P/E/G ratio of 1.68 and a beta of 1.11. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85. The business has a 50-day simple moving average of $136.31 and a two-hundred day simple moving average of $140.07.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating analysts' consensus estimates of $2.51 by $0.15. The company had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. Workday's revenue was up 13.5% compared to the same quarter last year. During the same period last year, the business earned $2.23 earnings per share. Research analysts anticipate that Workday, Inc. will post 5.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. CLSA began coverage on Workday in a research note on Monday, July 20th. They issued an "underperform" rating and a $92.00 target price on the stock. Needham & Company LLC decreased their price target on Workday from $300.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, May 22nd. Wells Fargo & Company boosted their price objective on Workday from $180.00 to $185.00 and gave the stock an "overweight" rating in a research report on Friday, May 22nd. Piper Sandler upped their price objective on Workday from $135.00 to $145.00 and gave the company a "neutral" rating in a research note on Friday, May 22nd. Finally, DA Davidson set a $135.00 target price on Workday in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $179.80.

Insider Buying and Selling

In related news, insider Gerrit S. Kazmaier sold 2,728 shares of Workday stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total transaction of $391,795.36. Following the completion of the sale, the insider owned 266,388 shares of the company's stock, valued at approximately $38,258,644.56. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David A. Duffield sold 107,500 shares of the company's stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $136.74, for a total value of $14,699,550.00. Following the completion of the transaction, the insider owned 105,049 shares in the company, valued at $14,364,400.26. This represents a 50.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 875,020 shares of company stock valued at $113,938,503 in the last ninety days. 18.64% of the stock is owned by insiders.

About Workday

Workday, Inc NASDAQ: WDAY is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday's platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company's product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.

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