Louisiana State Employees Retirement System bought a new position in Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,900 shares of the software maker’s stock, valued at approximately $1,893,000.
Other institutional investors have also recently modified their holdings of the company. Point72 Hong Kong Ltd lifted its stake in shares of Workday by 85,266.7% in the third quarter. Point72 Hong Kong Ltd now owns 12,805 shares of the software maker’s stock worth $2,755,000 after buying an additional 12,790 shares during the last quarter. Natixis increased its holdings in Workday by 721.5% in the 3rd quarter. Natixis now owns 29,756 shares of the software maker’s stock valued at $6,401,000 after buying an additional 26,134 shares during the period. Great West Life Assurance Co. Can increased its holdings in Workday by 8.8% in the 3rd quarter. Great West Life Assurance Co. Can now owns 184,171 shares of the software maker’s stock valued at $39,600,000 after buying an additional 14,925 shares during the period. Exchange Traded Concepts LLC increased its holdings in Workday by 153.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 238 shares of the software maker’s stock valued at $51,000 after buying an additional 144 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its holdings in Workday by 82.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 27,092 shares of the software maker’s stock valued at $5,917,000 after buying an additional 12,266 shares during the period. Institutional investors and hedge funds own 67.98% of the company’s stock.
In other Workday news, Director David A. Duffield sold 220,952 shares of Workday stock in a transaction dated Tuesday, December 1st. The stock was sold at an average price of $226.33, for a total value of $50,008,066.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David A. Duffield sold 218,763 shares of Workday stock in a transaction dated Monday, January 4th. The shares were sold at an average price of $228.59, for a total value of $50,007,034.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 527,139 shares of company stock valued at $119,351,925. 26.51% of the stock is owned by insiders.
Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Wednesday, November 18th. The software maker reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.19. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. Workday had a negative return on equity of 10.56% and a negative net margin of 10.77%. During the same quarter in the previous year, the firm earned $0.53 earnings per share. On average, analysts anticipate that Workday, Inc. will post -0.71 EPS for the current fiscal year.
WDAY has been the subject of several research reports. Stifel Nicolaus raised shares of Workday from a “hold” rating to a “buy” rating and set a $275.00 price target for the company in a research note on Thursday, October 1st. Loop Capital raised their target price on shares of Workday from $170.00 to $180.00 and gave the company a “sell” rating in a research note on Friday, November 20th. Piper Sandler raised their target price on shares of Workday from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, November 20th. Citigroup raised shares of Workday from a “neutral” rating to a “buy” rating and raised their target price for the company from $218.00 to $265.00 in a research note on Thursday, October 1st. Finally, Barclays raised their target price on shares of Workday from $220.00 to $238.00 and gave the company an “equal weight” rating in a research note on Friday, October 23rd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $241.46.
Workday Company Profile
Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.
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