Public Employees Retirement Association of Colorado decreased its position in shares of Workday, Inc. (NASDAQ:WDAY – Free Report) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,374 shares of the software maker’s stock after selling 670 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Workday were worth $7,539,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new stake in Workday during the 1st quarter worth approximately $25,000. Nemes Rush Group LLC acquired a new stake in Workday during the 2nd quarter worth approximately $34,000. Manchester Capital Management LLC acquired a new stake in Workday during the 1st quarter worth approximately $34,000. First Manhattan CO. LLC. acquired a new stake in Workday during the 1st quarter worth approximately $37,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Workday during the 2nd quarter worth approximately $508,000. Institutional investors own 68.46% of the company’s stock.
In other Workday news, CEO Carl M. Eschenbach bought 8,676 shares of Workday stock in a transaction dated Tuesday, August 29th. The stock was bought at an average price of $240.44 per share, with a total value of $2,086,057.44. Following the completion of the transaction, the chief executive officer now owns 20,222 shares in the company, valued at approximately $4,862,177.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Zane Rowe sold 5,216 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $205.41, for a total transaction of $1,071,418.56. Following the completion of the sale, the chief financial officer now owns 159,920 shares of the company’s stock, valued at $32,849,167.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carl M. Eschenbach acquired 8,676 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were purchased at an average cost of $240.44 per share, with a total value of $2,086,057.44. Following the transaction, the chief executive officer now directly owns 20,222 shares of the company’s stock, valued at $4,862,177.68. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 131,714 shares of company stock valued at $32,193,350. 21.09% of the stock is owned by company insiders.
Workday Trading Up 2.7 %
Workday (NASDAQ:WDAY – Get Free Report) last announced its earnings results on Thursday, August 24th. The software maker reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.17. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Workday had a negative net margin of 1.81% and a positive return on equity of 2.09%. Workday’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.16) earnings per share. Equities analysts anticipate that Workday, Inc. will post 1.13 EPS for the current year.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Robert W. Baird raised their target price on shares of Workday from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, August 25th. Mizuho raised their target price on shares of Workday from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, August 25th. Evercore ISI lowered their price objective on shares of Workday from $275.00 to $265.00 in a report on Monday, October 2nd. Jefferies Financial Group lifted their price objective on shares of Workday from $250.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, August 15th. Finally, Barclays lowered their price objective on shares of Workday from $262.00 to $249.00 and set an “overweight” rating on the stock in a report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $248.12.
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, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers 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.
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