State of Alaska Department of Revenue Sells 1,105 Shares of Workday, Inc. (NASDAQ:WDAY)

State of Alaska Department of Revenue cut its stake in Workday, Inc. (NASDAQ:WDAYFree Report) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,551 shares of the software maker’s stock after selling 1,105 shares during the period. State of Alaska Department of Revenue’s holdings in Workday were worth $5,949,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of WDAY. Vanguard Group Inc. grew its position in Workday by 1.9% during the third quarter. Vanguard Group Inc. now owns 14,010,910 shares of the software maker’s stock worth $3,010,244,000 after buying an additional 263,994 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Workday by 37.4% in the 3rd quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock worth $1,109,348,000 after acquiring an additional 1,406,153 shares during the period. State Street Corp grew its holdings in shares of Workday by 0.5% during the 2nd quarter. State Street Corp now owns 4,293,651 shares of the software maker’s stock worth $969,893,000 after purchasing an additional 22,929 shares in the last quarter. Polen Capital Management LLC increased its position in shares of Workday by 2.0% during 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 period. Finally, Norges Bank acquired a new position in shares of Workday in the fourth quarter valued at $600,504,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WDAY has been the topic of several analyst reports. DA Davidson reissued a “neutral” rating and issued a $300.00 price target on shares of Workday in a report on Tuesday, February 27th. Morgan Stanley lowered their target price on shares of Workday from $335.00 to $330.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 27th. The Goldman Sachs Group lifted their price objective on Workday from $270.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. UBS Group dropped their target price on Workday from $315.00 to $300.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Finally, Guggenheim reaffirmed a “sell” rating and issued a $190.00 price target on shares of Workday in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $293.61.

Read Our Latest Report on Workday

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $272.75 on Monday. The stock has a market capitalization of $72.01 billion, a P/E ratio of 52.96, a P/E/G ratio of 6.81 and a beta of 1.32. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 1-year low of $174.25 and a 1-year high of $311.28. The business has a 50-day moving average price of $286.91 and a two-hundred day moving average price of $259.03.

Workday (NASDAQ:WDAYGet Free Report) last announced 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 business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the business posted ($0.14) earnings per share. Workday’s revenue was up 16.8% compared to the same quarter last year. Equities analysts predict that Workday, Inc. will post 1.76 earnings per share for the current year.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $276.95, for a total value of $15,509,200.00. Following the transaction, the insider now owns 1,011,000 shares of the company’s stock, valued at $279,996,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $276.95, for a total value of $15,509,200.00. Following the completion of the sale, the insider now owns 1,011,000 shares of the company’s stock, valued at $279,996,450. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aneel Bhusri sold 3,335 shares of Workday stock in a transaction on Friday, January 5th. The stock was sold at an average price of $265.89, for a total transaction of $886,743.15. Following the transaction, the chief executive officer now directly owns 546,670 shares in the company, valued at $145,354,086.30. The disclosure for this sale can be found here. Insiders have sold 463,484 shares of company stock worth $126,630,341 in the last three months. Insiders own 21.09% of the company’s stock.

Workday Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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