New Mexico Educational Retirement Board Acquires Shares of 10,300 Workday, Inc. (NASDAQ:WDAY)

New Mexico Educational Retirement Board purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,300 shares of the software maker’s stock, valued at approximately $2,658,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bank Pictet & Cie Europe AG increased its holdings in shares of Workday by 24.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,075 shares of the software maker’s stock worth $793,000 after buying an additional 595 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in Workday by 5.9% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,860 shares of the software maker’s stock valued at $480,000 after purchasing an additional 103 shares during the last quarter. AustralianSuper Pty Ltd increased its holdings in Workday by 35.6% in the 4th quarter. AustralianSuper Pty Ltd now owns 7,068 shares of the software maker’s stock valued at $1,824,000 after purchasing an additional 1,857 shares during the last quarter. New York State Teachers Retirement System increased its holdings in Workday by 3,375.8% in the 4th quarter. New York State Teachers Retirement System now owns 142,613 shares of the software maker’s stock valued at $36,798,000 after purchasing an additional 138,510 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC acquired a new stake in Workday in the 4th quarter valued at approximately $28,928,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 70,003 shares of Workday stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total value of $17,584,753.60. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $25,872,846.40. The trade was a 40.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now owns 13,972 shares in the company, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is owned by company insiders.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $258.05 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a market capitalization of $68.64 billion, a P/E ratio of 42.79, a P/E/G ratio of 3.78 and a beta of 1.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company’s fifty day moving average price is $262.13 and its 200 day moving average price is $251.46.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Workday’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 earnings per share. As a group, sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on WDAY shares. Barclays dropped their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Mizuho lifted their target price on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citigroup dropped their target price on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Oppenheimer reiterated an “outperform” rating and issued a $300.00 target price on shares of Workday in a report on Tuesday, December 3rd. Finally, Bank of America decreased their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.43.

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.