Workday, Inc. (NASDAQ:WDAY) Stake Decreased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 8.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,502 shares of the software maker's stock after selling 3,189 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Workday were worth $10,077,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Beacon Capital Management LLC increased its stake in shares of Workday by 333.3% during the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker's stock worth $25,000 after purchasing an additional 70 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in Workday by 1,750.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker's stock valued at $31,000 after buying an additional 105 shares during the last quarter. CVA Family Office LLC acquired a new position in Workday in the 4th quarter valued at $33,000. VisionPoint Advisory Group LLC grew its stake in Workday by 215.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker's stock valued at $26,000 after buying an additional 84 shares during the last quarter. Finally, Clear Street Markets LLC acquired a new position in Workday in the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Price Performance

WDAY traded down $1.08 during midday trading on Wednesday, hitting $255.74. The company had a trading volume of 1,162,350 shares, compared to its average volume of 1,754,667. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The company has a market capitalization of $67.52 billion, a PE ratio of 49.54, a P/E/G ratio of 6.33 and a beta of 1.32. Workday, Inc. has a twelve month low of $174.25 and a twelve month high of $311.28. The firm's 50-day simple moving average is $276.48 and its 200-day simple moving average is $263.66.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The firm had revenue of $1.92 billion during the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter last year, the company posted ($0.14) EPS. The company's quarterly revenue was up 16.8% compared to the same quarter last year. Equities research analysts predict that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Needham & Company LLC raised their target price on shares of Workday from $300.00 to $350.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th. BMO Capital Markets increased their price target on shares of Workday from $290.00 to $338.00 and gave the company an "outperform" rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. increased their price target on shares of Workday from $260.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, February 22nd. The Goldman Sachs Group increased their price target on shares of Workday from $270.00 to $310.00 and gave the company a "buy" rating in a report on Tuesday, February 27th. Finally, Citigroup increased their price target on shares of Workday from $270.00 to $293.00 and gave the company a "neutral" rating in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $293.61.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 64,329 shares of Workday stock in a transaction that occurred on 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 owns 102,997 shares in the company, valued at approximately $27,690,743.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the transaction, the insider now owns 165,932 shares of the company's stock, valued at $48,749,162.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 64,329 shares of Workday stock in a transaction that occurred on 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 transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $27,690,743.45. The disclosure for this sale can be found here. Insiders sold a total of 435,691 shares of company stock worth $117,731,569 in the last quarter. 21.09% of the stock is owned by company insiders.

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.