46,118 Shares in Workday, Inc. (NASDAQ:WDAY) Bought by Retirement Systems of Alabama

Retirement Systems of Alabama bought a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 46,118 shares of the software maker’s stock, valued at approximately $11,900,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after acquiring an additional 480,459 shares during the last quarter. State Street Corp lifted its holdings in shares of Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after purchasing an additional 67,380 shares during the last quarter. Geode Capital Management LLC grew its stake in Workday by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after buying an additional 76,618 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Workday by 0.6% in the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after buying an additional 14,159 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Workday by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock valued at $482,133,000 after buying an additional 75,747 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Workday news, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the transaction, the insider now owns 121,100 shares of the company’s stock, valued at $30,369,458. The trade was a 4.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 70,090 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,215,826.41. This trade represents a 40.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is owned by corporate insiders.

Workday Price Performance

NASDAQ WDAY opened at $271.89 on Friday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The company has a market cap of $72.32 billion, a PE ratio of 45.09, a PEG ratio of 4.73 and a beta of 1.35. The stock’s 50-day moving average price is $261.64 and its two-hundred day moving average price is $249.91.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. On average, analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Scotiabank assumed coverage on shares of Workday in a research report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target for the company. Loop Capital decreased their target price on shares of Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. Citigroup cut their price target on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Barclays decreased their price objective on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Finally, Royal Bank of Canada boosted their price target on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.43.

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.