New York State Common Retirement Fund Raises Stock Holdings in Workday, Inc. $WDAY

New York State Common Retirement Fund boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 254,700 shares of the software maker’s stock after purchasing an additional 5,200 shares during the quarter. New York State Common Retirement Fund owned approximately 0.10% of Workday worth $61,314,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. AlphaQuest LLC raised its stake in shares of Workday by 636.7% in the 2nd quarter. AlphaQuest LLC now owns 1,886 shares of the software maker’s stock valued at $453,000 after purchasing an additional 1,630 shares in the last quarter. PKO Investment Management Joint Stock Co bought a new position in shares of Workday during the third quarter valued at approximately $1,805,000. Phoenix Financial Ltd. bought a new position in Workday during the 3rd quarter worth $2,000,000. Rakuten Investment Management Inc. bought a new position in shares of Workday during the third quarter worth about $124,718,000. Finally, Norges Bank bought a new position in Workday in the 2nd quarter worth about $442,702,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Workday in a research note on Wednesday, November 26th. DA Davidson reduced their price objective on shares of Workday from $260.00 to $250.00 and set a “hold” rating for the company in a report on Wednesday, November 26th. Citizens Jmp reissued a “market outperform” rating and set a $315.00 target price on shares of Workday in a research note on Wednesday, November 26th. Loop Capital set a $280.00 price target on shares of Workday in a research report on Wednesday, December 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Workday from $290.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and a consensus price target of $278.09.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $174.66 on Friday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $45.94 billion, a price-to-earnings ratio of 73.39, a PEG ratio of 2.13 and a beta of 1.14. The stock’s fifty day simple moving average is $209.36 and its 200 day simple moving average is $223.83. Workday, Inc. has a 52-week low of $169.01 and a 52-week high of $283.68.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, beating the consensus estimate of $2.17 by $0.15. Workday had a return on equity of 10.50% and a net margin of 6.95%.The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the prior year, the business posted $1.89 earnings per share. Workday’s revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity at Workday

In other news, CAO Mark S. Garfield sold 953 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $209.56, for a total transaction of $199,710.68. Following the sale, the chief accounting officer owned 35,336 shares in the company, valued at $7,405,012.16. The trade was a 2.63% decrease in their ownership of the stock. 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 82,884 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $209.75, for a total transaction of $17,384,919.00. Following the completion of the sale, the insider owned 105,049 shares of the company’s stock, valued at approximately $22,034,027.75. This trade represents a 44.10% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 370,321 shares of company stock valued at $78,866,401. Corporate insiders own 19.31% of the company’s stock.

Workday Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.