California Public Employees Retirement System Has $101.70 Million Stock Position in Workday, Inc. (NASDAQ:WDAY)

California Public Employees Retirement System reduced its position in shares of Workday, Inc. (NASDAQ:WDAY) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 368,413 shares of the software maker’s stock after selling 4,361 shares during the period. California Public Employees Retirement System’s holdings in Workday were worth $101,704,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Beacon Capital Management LLC grew its stake in shares of Workday by 333.3% during the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after buying an additional 70 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in Workday by 1,750.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after acquiring an additional 105 shares during the last quarter. CVA Family Office LLC bought a new stake in Workday during the fourth quarter valued at $33,000. VisionPoint Advisory Group LLC boosted its position in Workday by 215.4% during the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after acquiring an additional 84 shares during the last quarter. Finally, Clear Street Markets LLC bought a new stake in Workday during the third quarter valued at $29,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WDAY shares. JPMorgan Chase & Co. upped their price objective on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Evercore ISI raised their price objective on shares of Workday from $310.00 to $350.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Guggenheim reiterated a “sell” rating and issued a $190.00 target price on shares of Workday in a research note on Tuesday, February 27th. Stifel Nicolaus raised their price objective on shares of Workday from $250.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, February 27th. Finally, Piper Sandler restated an “overweight” rating and set a $330.00 price objective on shares of Workday in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $293.61.

Workday Trading Up 1.3 %

Shares of WDAY opened at $256.82 on Wednesday. The firm’s 50-day moving average price is $276.48 and its 200-day moving average price is $263.66. The firm has a market capitalization of $67.80 billion, a price-to-earnings ratio of 49.87, a PEG ratio of 6.33 and a beta of 1.32. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 1-year low of $174.25 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.47 by $0.10. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. Workday’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. Sell-side analysts anticipate that Workday, Inc. will post 1.76 EPS for the current year.

Insider Activity

In related news, major shareholder David A. Duffield sold 64,329 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $27,690,743.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Workday news, major shareholder David A. Duffield sold 64,329 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $268.85, for a total value of $17,294,851.65. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $27,690,743.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Douglas A. Robinson sold 411 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total transaction of $109,695.90. Following the completion of the transaction, the insider now owns 165,521 shares of the company’s stock, valued at $44,177,554.90. The disclosure for this sale can be found here. Insiders sold 435,691 shares of company stock valued at $117,731,569 over the last three months. Insiders own 21.09% of the company’s stock.

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.