Arizona State Retirement System Grows Position in Workday, Inc. (NASDAQ:WDAY)

Arizona State Retirement System grew its stake in Workday, Inc. (NASDAQ:WDAY) by 0.3% during the 4th quarter, HoldingsChannel reports. The firm owned 60,974 shares of the software maker’s stock after buying an additional 203 shares during the quarter. Arizona State Retirement System’s holdings in Workday were worth $15,733,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Crews Bank & Trust purchased a new stake in Workday in the 4th quarter worth approximately $26,000. Roxbury Financial LLC purchased a new stake in Workday in the 4th quarter worth approximately $25,000. Avion Wealth boosted its position in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Workday in the 3rd quarter worth approximately $26,000. Finally, Meeder Asset Management Inc. lifted its position in shares of 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 buying an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In related news, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the sale, the director now directly owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the sale, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 435,829 shares of company stock valued at $113,033,319. 20.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on WDAY shares. Stifel Nicolaus increased their target price on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a research report on Wednesday, February 26th. StockNews.com lowered Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. KeyCorp increased their target price on Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Bank of America decreased their target price on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Redburn Atlantic started coverage on Workday in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $302.14.

Workday Stock Up 2.4 %

Shares of WDAY opened at $259.61 on Thursday. 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 $69.06 billion, a PE ratio of 43.05, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. The stock has a fifty day simple moving average of $258.98 and a two-hundred day simple moving average of $255.49. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

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

About Workday

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.