State of New Jersey Common Pension Fund D Has $16.90 Million Stock Position in Workday, Inc. $WDAY

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Workday, Inc. by 7.2% after selling 5,610 shares, leaving it with a total of 72,373 shares valued at approximately $16.9 million.
• Insider transactions include CFO Zane Rowe selling 6,000 shares and Director George J. Still, Jr. selling 7,500 shares, reflecting notable decreases in their respective ownership stakes.
• Workday has seen varying price target adjustments from different analysts, with the current consensus rating being "Moderate Buy" and an average target price of $294.31.

State of New Jersey Common Pension Fund D trimmed its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 7.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,373 shares of the software maker's stock after selling 5,610 shares during the period. State of New Jersey Common Pension Fund D's holdings in Workday were worth $16,901,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of WDAY. Private Trust Co. NA raised its stake in Workday by 15.2% in the first quarter. Private Trust Co. NA now owns 318 shares of the software maker's stock valued at $74,000 after purchasing an additional 42 shares in the last quarter. Salvus Wealth Management LLC raised its position in shares of Workday by 2.8% in the 1st quarter. Salvus Wealth Management LLC now owns 1,658 shares of the software maker's stock valued at $387,000 after buying an additional 45 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Workday by 15.0% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 353 shares of the software maker's stock valued at $82,000 after buying an additional 46 shares in the last quarter. AE Wealth Management LLC lifted its holdings in shares of Workday by 0.4% during the 1st quarter. AE Wealth Management LLC now owns 11,896 shares of the software maker's stock worth $2,778,000 after acquiring an additional 46 shares during the period. Finally, Bristlecone Advisors LLC boosted its position in shares of Workday by 1.6% during the 1st quarter. Bristlecone Advisors LLC now owns 2,968 shares of the software maker's stock worth $693,000 after acquiring an additional 47 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WDAY shares. JPMorgan Chase & Co. lowered their price objective 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. Royal Bank Of Canada restated an "outperform" rating and set a $340.00 price objective on shares of Workday in a research report on Friday, May 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $300.00 target price on shares of Workday in a research report on Wednesday, May 21st. DA Davidson increased their target price on shares of Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Finally, Wall Street Zen upgraded shares of Workday from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $292.92.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 72,551 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $239.61, for a total transaction of $17,383,945.11. Following the sale, the insider owned 102,997 shares in the company, valued at $24,679,111.17. This represents a 41.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark S. Garfield sold 451 shares of Workday stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $234.86, for a total value of $105,921.86. Following the completion of the sale, the chief accounting officer owned 42,977 shares of the company's stock, valued at approximately $10,093,578.22. The trade was a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 329,005 shares of company stock valued at $79,203,523 over the last 90 days. 20.00% of the stock is owned by company insiders.

Workday Trading Down 1.0%

Shares of Workday stock traded down $2.30 during trading on Wednesday, hitting $227.49. The company's stock had a trading volume of 3,974,168 shares, compared to its average volume of 2,389,348. The stock has a market cap of $60.74 billion, a price-to-earnings ratio of 125.69, a price-to-earnings-growth ratio of 3.50 and a beta of 1.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07. Workday, Inc. has a 52 week low of $205.33 and a 52 week high of $294.00. The stock has a 50-day moving average price of $233.79 and a two-hundred day moving average price of $243.31.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.22. Workday had a return on equity of 8.00% and a net margin of 5.60%.The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the company posted $1.74 EPS. The business's revenue was up 12.6% on a year-over-year basis. Workday has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. Equities research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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.