Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lifted its position in Workday, Inc. (NASDAQ:WDAY) by 67.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,100 shares of the software maker’s stock after acquiring an additional 10,900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Workday were worth $6,993,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC boosted its holdings in Workday by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after purchasing an additional 1,978 shares during the period. Grafton Street Partners Fund LP acquired a new position in shares of Workday in the 3rd quarter valued at about $4,424,000. ICICI Prudential Asset Management Co Ltd boosted its holdings in shares of Workday by 32.4% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after buying an additional 7,802 shares during the period. Bristlecone Advisors LLC grew its position in shares of Workday by 49.6% during the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock valued at $754,000 after buying an additional 968 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after acquiring an additional 119,769 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Workday Price Performance

NASDAQ:WDAY opened at $263.00 on Wednesday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The business’s 50-day moving average price is $262.45 and its 200 day moving average price is $250.89. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The firm has a market cap of $69.96 billion, a P/E ratio of 43.62, a PEG ratio of 3.78 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted $0.47 EPS. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on WDAY. Mizuho upped their target price on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Royal Bank of Canada upped their price objective on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. StockNews.com cut Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler restated a “neutral” rating and set a $270.00 price target (down previously from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Finally, Scotiabank began coverage on shares of Workday in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and a consensus target price of $292.43.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the completion of the sale, the insider now directly owns 284,000 shares of the company’s stock, valued at approximately $78,188,040. This represents a 16.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sayan Chakraborty sold 5,498 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the transaction, the insider now owns 121,100 shares of the company’s stock, valued at approximately $30,369,458. The trade was a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 438,819 shares of company stock worth $113,142,592. Corporate insiders own 20.00% of the company’s stock.

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.