New York State Common Retirement Fund Lowers Position in Workday, Inc. (NASDAQ:WDAY)

New York State Common Retirement Fund reduced its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 321,239 shares of the software maker's stock after selling 8,400 shares during the quarter. New York State Common Retirement Fund owned about 0.12% of Workday worth $88,681,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Workday by 1.9% in the third quarter. Vanguard Group Inc. now owns 14,010,910 shares of the software maker's stock valued at $3,010,244,000 after purchasing an additional 263,994 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Workday by 37.4% in 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 purchasing an additional 1,406,153 shares during the last quarter. Polen Capital Management LLC grew its position in shares of Workday by 2.0% in the third quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker's stock valued at $848,726,000 after purchasing an additional 78,352 shares during the last quarter. Morgan Stanley grew its position in shares of Workday by 47.0% in the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker's stock valued at $586,021,000 after purchasing an additional 872,288 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Workday by 8.5% in the third 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. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the business's stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the sale, the insider now directly owns 843,000 shares of the company's stock, valued at approximately $223,302,270. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder David A. Duffield sold 56,000 shares of the company's stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $264.89, for a total value of $14,833,840.00. Following the sale, the insider now directly owns 843,000 shares of the company's stock, valued at approximately $223,302,270. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 64,329 shares of the company's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $27,690,743.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 435,691 shares of company stock valued at $117,731,569. Company insiders own 21.09% of the company's stock.

Wall Street Analyst Weigh In

WDAY has been the topic of a number of recent research reports. Citigroup lifted their target price on Workday from $270.00 to $293.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 27th. Morgan Stanley dropped their price objective on shares of Workday from $335.00 to $330.00 and set an "overweight" rating for the company in a research report on Tuesday, February 27th. StockNews.com cut shares of Workday from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 8th. DA Davidson restated a "neutral" rating and issued a $300.00 price objective on shares of Workday in a research report on Tuesday, February 27th. Finally, KeyCorp boosted their price objective on shares of Workday from $310.00 to $330.00 and gave the stock an "overweight" rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company's stock. According to MarketBeat.com, Workday presently has an average rating of "Moderate Buy" and an average target price of $293.61.

Workday Stock Up 1.3 %

NASDAQ WDAY traded up $3.29 on Tuesday, reaching $256.82. The company had a trading volume of 1,281,995 shares, compared to its average volume of 1,762,242. The firm has a market capitalization of $67.80 billion, a price-to-earnings ratio of 49.23, a price-to-earnings-growth ratio of 6.30 and a beta of 1.32. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. Workday, Inc. has a 1-year low of $174.25 and a 1-year high of $311.28. The company's fifty day moving average is $277.28 and its 200-day moving average is $263.35.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.10. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. The company's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.14) EPS. On average, research analysts forecast that Workday, Inc. will post 1.76 earnings per share 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.