State of Alaska Department of Revenue Has $1.86 Million Stake in Workday, Inc. (NASDAQ:WDAY)

State of Alaska Department of Revenue reduced its position in shares of Workday, Inc. (NASDAQ:WDAY) by 52.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,621 shares of the software maker’s stock after selling 8,440 shares during the period. State of Alaska Department of Revenue’s holdings in Workday were worth $1,862,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its position in 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 period. Sustainable Growth Advisers LP grew its stake in Workday by 9.7% during the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after acquiring an additional 301,463 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Workday by 12.4% in the 1st quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after purchasing an additional 281,207 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Workday by 79.1% in the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after purchasing an additional 1,016,394 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after purchasing an additional 118,180 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $260.32, for a total value of $1,952,400.00. Following the transaction, the director now directly owns 97,500 shares in the company, valued at $25,381,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Wayne A.I. Frederick sold 1,828 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $241.85, for a total value of $442,101.80. Following the completion of the sale, the director now directly owns 8,674 shares in the company, valued at approximately $2,097,806.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the transaction, the director now owns 97,500 shares in the company, valued at approximately $25,381,200. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 370,575 shares of company stock worth $91,506,897 in the last quarter. 20.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Evercore ISI lowered their price target on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Needham & Company LLC dropped their target price on Workday from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. BMO Capital Markets reaffirmed an “outperform” rating and set a $300.00 price target on shares of Workday in a research note on Wednesday, September 18th. DA Davidson boosted their price target on Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Finally, Citigroup cut their price objective on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. One investment 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 stock. Based on data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.04.

Workday Stock Performance

NASDAQ WDAY opened at $239.12 on Friday. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $63.37 billion, a P/E ratio of 41.66, a PEG ratio of 4.73 and a beta of 1.35. The company’s 50-day simple moving average is $246.99 and its 200 day simple moving average is $236.26.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the prior year, the company posted $0.40 EPS. The company’s revenue was up 16.5% compared to the same quarter last year. As a group, research analysts forecast that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Workday 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.