Illinois Municipal Retirement Fund Sells 3,189 Shares of Workday, Inc. (NASDAQ:WDAY)

Illinois Municipal Retirement Fund lowered its stake in Workday, Inc. (NASDAQ:WDAY) by 8.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 36,502 shares of the software maker’s stock after selling 3,189 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Workday were worth $10,077,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WDAY. Wellington Management Group LLP lifted its position in Workday by 37.4% in the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after purchasing an additional 1,406,153 shares during the last quarter. Winslow Capital Management LLC raised its holdings in shares of Workday by 76.4% during the third quarter. Winslow Capital Management LLC now owns 2,310,619 shares of the software maker’s stock valued at $496,436,000 after acquiring an additional 1,000,922 shares in the last quarter. Morgan Stanley raised its holdings in shares of Workday by 47.0% during the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after acquiring an additional 872,288 shares in the last quarter. Alkeon Capital Management LLC bought a new position in shares of Workday during the third quarter valued at approximately $107,425,000. Finally, Invesco Ltd. raised its holdings in shares of Workday by 22.1% during the third quarter. Invesco Ltd. now owns 1,802,209 shares of the software maker’s stock valued at $387,205,000 after acquiring an additional 326,283 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on WDAY. Barclays decreased their target price on Workday from $326.00 to $316.00 and set an “overweight” rating for the company in a report on Tuesday, February 27th. Mizuho upped their target price on Workday from $290.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. KeyCorp upped their price target on Workday from $310.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Wells Fargo & Company upped their price target on Workday from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two 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 price target of $293.61.

Workday Stock Up 1.3 %

Shares of WDAY opened at $256.82 on Wednesday. The business’s 50 day moving average is $276.48 and its 200 day moving average is $263.66. The company has a market capitalization of $67.80 billion, a PE ratio of 49.87, a price-to-earnings-growth ratio of 6.33 and a beta of 1.32. Workday, Inc. has a 12-month low of $174.25 and a 12-month high of $311.28. 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 (NASDAQ:WDAY) last issued its earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.10. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.14) EPS. Research analysts expect that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the sale, the insider now owns 165,932 shares of the company’s stock, valued at approximately $48,749,162.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Workday news, insider Douglas A. Robinson sold 411 shares of the firm’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 in the company, valued at approximately $44,177,554.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the transaction, the insider now owns 165,932 shares of the company’s stock, valued at approximately $48,749,162.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 435,691 shares of company stock valued at $117,731,569. 21.09% of the stock is owned by company insiders.

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.