Workday, Inc. (NASDAQ:WDAY) Stake Reduced by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 249,500 shares of the software maker's stock after selling 5,626 shares during the quarter. New York State Common Retirement Fund owned about 0.09% of Workday worth $58,266,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Janney Montgomery Scott LLC boosted its stake in Workday by 5.0% during the first quarter. Janney Montgomery Scott LLC now owns 22,645 shares of the software maker's stock valued at $5,288,000 after buying an additional 1,070 shares in the last quarter. Kingswood Wealth Advisors LLC increased its position in Workday by 13.9% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,136 shares of the software maker's stock worth $265,000 after purchasing an additional 139 shares during the last quarter. Sowell Financial Services LLC acquired a new position in Workday in the 1st quarter worth about $290,000. Golden State Wealth Management LLC increased its position in Workday by 9,166.7% in the 1st quarter. Golden State Wealth Management LLC now owns 278 shares of the software maker's stock worth $65,000 after purchasing an additional 275 shares during the last quarter. Finally, D.A. Davidson & CO. increased its holdings in shares of Workday by 27.8% during the 1st quarter. D.A. Davidson & CO. now owns 1,601 shares of the software maker's stock valued at $374,000 after acquiring an additional 348 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

Insiders Place Their Bets

In other news, CFO Zane Rowe sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $239.59, for a total value of $1,437,540.00. Following the transaction, the chief financial officer owned 178,418 shares of the company's stock, valued at approximately $42,747,168.62. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total value of $1,496,437.50. Following the completion of the transaction, the chief executive officer directly owned 1,472 shares in the company, valued at $352,440.96. The trade was a 80.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 328,554 shares of company stock worth $79,097,601 in the last three months. 20.00% of the stock is owned by corporate insiders.

Workday Price Performance

Shares of NASDAQ WDAY opened at $223.37 on Monday. The business's 50 day moving average price is $248.29 and its two-hundred day moving average price is $248.22. The company has a market cap of $59.64 billion, a PE ratio of 123.41, a price-to-earnings-growth ratio of 3.38 and a beta of 1.21. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup downgraded Workday from a "neutral" rating to a "mixed" rating in a research note on Friday, May 16th. Oppenheimer cut their target price on Workday from $320.00 to $300.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. Stifel Nicolaus cut their target price on Workday from $310.00 to $275.00 and set a "hold" rating for the company in a research report on Friday, May 23rd. Wells Fargo & Company dropped their price target on Workday from $360.00 to $325.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. dropped their price target on Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $296.88.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.