Public Employees Retirement System of Ohio Reduces Position in Workday, Inc. (NASDAQ:WDAY)

Public Employees Retirement System of Ohio decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 6.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,560 shares of the software maker’s stock after selling 6,909 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Workday were worth $25,791,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Workday by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after buying an additional 324,540 shares in the last quarter. Norges Bank purchased a new stake in shares of Workday in the fourth quarter valued at about $1,491,149,000. Sustainable Growth Advisers LP grew its holdings in shares of Workday by 9.7% in the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after purchasing an additional 301,463 shares during the period. Clearbridge Investments LLC grew its holdings in shares of Workday by 12.4% in the first 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. Finally, Artisan Partners Limited Partnership grew its holdings in shares of Workday by 5.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,511,764 shares of the software maker’s stock valued at $417,338,000 after purchasing an additional 75,903 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Workday from $290.00 to $250.00 and set a “hold” rating for the company in a report on Friday, May 24th. Needham & Company LLC reissued a “buy” rating and issued a $350.00 price objective on shares of Workday in a report on Friday, May 24th. StockNews.com lowered shares of Workday from a “strong-buy” rating to a “buy” rating in a report on Monday, April 8th. TD Cowen dropped their price target on shares of Workday from $330.00 to $290.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Finally, Guggenheim reiterated a “sell” rating and set a $190.00 price target on shares of Workday in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $281.44.

Insider Transactions at Workday

In other news, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total transaction of $669,267.24. Following the completion of the sale, the insider now owns 204,066 shares in the company, valued at approximately $43,759,913.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction on Monday, July 8th. The shares were sold at an average price of $226.67, for a total value of $710,383.78. Following the transaction, the insider now directly owns 92,014 shares of the company’s stock, valued at approximately $20,856,813.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total transaction of $669,267.24. Following the completion of the transaction, the insider now directly owns 204,066 shares in the company, valued at $43,759,913.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 524,672 shares of company stock worth $115,938,834. 20.00% of the stock is currently owned by insiders.

Workday Stock Down 0.4 %

Workday stock traded down $1.01 during trading on Monday, reaching $227.63. The stock had a trading volume of 723,634 shares, compared to its average volume of 2,170,151. Workday, Inc. has a 52-week low of $202.01 and a 52-week high of $311.28. The business has a 50 day moving average price of $223.16 and a 200 day moving average price of $256.87. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37. The stock has a market cap of $60.32 billion, a PE ratio of 41.20, a P/E/G ratio of 5.76 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. On average, analysts predict that Workday, Inc. will post 2.12 EPS for the current year.

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.