Maryland State Retirement & Pension System Cuts Stock Position in Workday, Inc. (NASDAQ:WDAY)

Maryland State Retirement & Pension System lessened its holdings in Workday, Inc. (NASDAQ:WDAY) by 7.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,302 shares of the software maker’s stock after selling 860 shares during the period. Maryland State Retirement & Pension System’s holdings in Workday were worth $2,916,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Roxbury Financial LLC purchased a new position in shares of Workday in the 4th quarter valued at $25,000. Crews Bank & Trust acquired a new stake in Workday during the 4th quarter valued at $26,000. Avion Wealth grew its holdings in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares in the last quarter. Finally, TCTC Holdings LLC acquired a new stake in Workday during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY opened at $250.47 on Friday. The company’s 50 day moving average price is $256.76 and its 200 day moving average price is $255.24. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The company has a market capitalization of $66.63 billion, a PE ratio of 41.54, a PEG ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Research analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on WDAY. Morgan Stanley lowered shares of Workday from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. Guggenheim reaffirmed a “neutral” rating on shares of Workday in a report on Wednesday, February 26th. Bank of America lowered their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Citigroup lowered their price target on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Royal Bank of Canada raised their price objective on shares of Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $300.36.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 71,672 shares of Workday stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $248.58, for a total value of $17,816,225.76. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $25,602,994.26. The trade was a 41.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the completion of the sale, the director now owns 75,000 shares of the company’s stock, valued at $18,099,750. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 473,001 shares of company stock worth $120,614,400 over the last ninety days. 20.00% of the stock is currently owned by insiders.

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.