California Public Employees Retirement System Sells 200,691 Shares of Workday, Inc. $WDAY

California Public Employees Retirement System decreased its holdings in Workday, Inc. (NASDAQ:WDAY) by 35.9% during the first quarter, HoldingsChannel.com reports. The firm owned 358,428 shares of the software maker’s stock after selling 200,691 shares during the quarter. California Public Employees Retirement System’s holdings in Workday were worth $46,567,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ceera Investments LLC increased its stake in Workday by 80.8% in the 1st quarter. Ceera Investments LLC now owns 34,013 shares of the software maker’s stock worth $4,419,000 after buying an additional 15,201 shares during the period. Kera Capital Partners Inc. boosted its position in Workday by 217.4% in the 1st quarter. Kera Capital Partners Inc. now owns 4,126 shares of the software maker’s stock valued at $536,000 after buying an additional 2,826 shares during the period. Gryphon Financial Partners LLC grew its stake in Workday by 6.5% in the 1st quarter. Gryphon Financial Partners LLC now owns 4,039 shares of the software maker’s stock worth $525,000 after acquiring an additional 246 shares in the last quarter. Catalyst Capital Advisors LLC grew its stake in Workday by 67.6% in the 1st quarter. Catalyst Capital Advisors LLC now owns 9,742 shares of the software maker’s stock worth $1,266,000 after acquiring an additional 3,931 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of Workday by 38.1% during the first quarter. Assetmark Inc. now owns 6,983 shares of the software maker’s stock worth $907,000 after acquiring an additional 1,925 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $136.74, for a total value of $14,699,550.00. Following the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $14,364,400.26. This trade represents a 50.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total value of $862,200.00. Following the completion of the transaction, the chief financial officer directly owned 288,460 shares of the company’s stock, valued at approximately $41,451,702. The trade was a 2.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 875,020 shares of company stock worth $113,938,503. 18.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several research analyst reports. BTIG Research reaffirmed a “buy” rating and set a $175.00 price target on shares of Workday in a research note on Monday, May 18th. Citigroup reissued a “market perform” rating on shares of Workday in a research note on Friday, May 22nd. Summit Redstone set a $275.00 price objective on Workday in a report on Wednesday, May 27th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Workday in a research report on Friday, May 22nd. Finally, Barclays upgraded Workday from an “overweight” rating to a “buy” rating in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $181.37.

Workday Price Performance

Shares of WDAY opened at $147.22 on Tuesday. The company has a 50 day moving average price of $131.97 and a 200-day moving average price of $143.53. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85. The stock has a market capitalization of $36.36 billion, a PE ratio of 46.01, a PEG ratio of 1.55 and a beta of 1.11. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.15. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. Workday’s revenue was up 13.5% compared to the same quarter last year. During the same period last year, the company posted $2.23 earnings per share. Equities analysts predict that Workday, Inc. will post 5.34 earnings per share for the current fiscal year.

Workday Company 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.