Public Employees Retirement System of Ohio Sells 6,909 Shares of Workday, Inc. (NASDAQ:WDAY)

Public Employees Retirement System of Ohio reduced its stake in Workday, Inc. (NASDAQ:WDAY) by 6.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,560 shares of the software maker’s stock after selling 6,909 shares during the period. Public Employees Retirement System of Ohio’s holdings in Workday were worth $25,791,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WDAY. Crewe Advisors LLC acquired a new stake in Workday during the 1st quarter worth $27,000. Sound Income Strategies LLC raised its stake in Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after buying an additional 49 shares during the period. CVA Family Office LLC acquired a new stake in Workday during the 4th quarter worth $33,000. Friedenthal Financial acquired a new stake in Workday during the 4th quarter worth $43,000. Finally, VisionPoint Advisory Group LLC raised its stake in Workday by 27.6% during the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock worth $43,000 after buying an additional 34 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Workday Price Performance

Shares of WDAY stock traded down $1.01 during trading on Monday, hitting $227.63. The company had a trading volume of 723,634 shares, compared to its average volume of 2,170,151. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a market capitalization of $60.32 billion, a P/E ratio of 41.20, a price-to-earnings-growth ratio of 5.76 and a beta of 1.35. The stock’s 50-day moving average price is $223.16 and its 200 day moving average price is $256.87. Workday, Inc. has a one year low of $202.01 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.20. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 earnings per share. Equities analysts expect that Workday, Inc. will post 2.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WDAY. Barclays dropped their price target on Workday from $316.00 to $286.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. Canaccord Genuity Group dropped their price target on Workday from $305.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Mizuho decreased their price objective on Workday from $325.00 to $280.00 and set a “buy” rating for the company in a report on Friday, May 24th. JPMorgan Chase & Co. decreased their price objective on Workday from $300.00 to $285.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Finally, Stifel Nicolaus decreased their price objective on Workday from $290.00 to $250.00 and set a “hold” rating for the company in a report on Friday, May 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $281.44.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $229.32, for a total transaction of $12,841,920.00. Following the completion of the sale, the insider now directly owns 562,000 shares in the company, valued at $128,877,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total value of $669,267.24. Following the completion of the sale, the insider now directly owns 204,066 shares in the company, valued at $43,759,913.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $229.32, for a total value of $12,841,920.00. Following the sale, the insider now owns 562,000 shares of the company’s stock, valued at $128,877,840. The disclosure for this sale can be found here. Insiders sold 524,672 shares of company stock worth $115,938,834 over the last three months. Insiders own 20.00% of the company’s stock.

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.