Louisiana State Employees Retirement System Sells 600 Shares of Workday, Inc. (NASDAQ:WDAY)

Louisiana State Employees Retirement System trimmed its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 3.6% during the 3rd quarter, Holdings Channel reports. The fund owned 16,200 shares of the software maker’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in Workday were worth $3,959,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WDAY. The Manufacturers Life Insurance Company grew its holdings in Workday by 79.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after acquiring an additional 1,016,394 shares in the last quarter. Van ECK Associates Corp grew its holdings in Workday by 17,345.2% during the 2nd quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock worth $208,068,000 after acquiring an additional 925,366 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Workday by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after buying an additional 324,540 shares during the last quarter. D1 Capital Partners L.P. lifted its position in shares of Workday by 152.1% during the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock valued at $115,804,000 after buying an additional 312,500 shares during the last quarter. Finally, Sustainable Growth Advisers LP lifted its position in shares of Workday by 9.7% during the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after buying an additional 301,463 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insider Transactions at Workday

In related news, Director Wayne A.I. Frederick sold 1,828 shares of Workday stock in a transaction on Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the sale, the director now owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Wayne A.I. Frederick sold 1,828 shares of Workday stock in a transaction on Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the sale, the director now owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Monday, October 14th. The shares were sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the completion of the sale, the insider now directly owns 281,000 shares in the company, valued at $68,004,810. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 370,575 shares of company stock valued at $91,506,897 in the last 90 days. 20.00% of the stock is currently owned by company insiders.

Workday Price Performance

Shares of NASDAQ WDAY opened at $237.71 on Friday. The stock has a market capitalization of $62.99 billion, a price-to-earnings ratio of 42.83, a PEG ratio of 4.90 and a beta of 1.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The firm’s 50 day simple moving average is $247.09 and its 200-day simple moving average is $237.03. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business’s revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the company earned $0.40 EPS. Analysts expect that Workday, Inc. will post 2.4 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Bank of America increased their price target on shares of Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Needham & Company LLC decreased their price target on shares of Workday from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Wells Fargo & Company increased their price target on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. BMO Capital Markets reissued an “outperform” rating and set a $300.00 price target on shares of Workday in a research report on Wednesday, September 18th. Finally, Loop Capital increased their price objective on shares of Workday from $240.00 to $255.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $287.04.

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.