Louisiana State Employees Retirement System Grows Stock Position in Workday, Inc. (NASDAQ:WDAY)

Louisiana State Employees Retirement System raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 67.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,100 shares of the software maker’s stock after acquiring an additional 10,900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Workday were worth $6,993,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WDAY. Capital Performance Advisors LLP acquired a new stake in shares of Workday in the third quarter valued at approximately $26,000. Crews Bank & Trust purchased a new stake in Workday in the 4th quarter valued at approximately $26,000. Meeder Asset Management Inc. grew its holdings in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares during the last quarter. New Millennium Group LLC increased its position in Workday by 177.4% during the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after buying an additional 94 shares in the last quarter. Finally, True Wealth Design LLC raised its holdings in shares of Workday by 4,766.7% in the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after acquiring an additional 143 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the completion of the sale, the insider now owns 60,000 shares in the company, valued at $14,785,200. This trade represents a 48.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the sale, the chief accounting officer now owns 35,408 shares in the company, valued at $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is currently owned by company insiders.

Workday Trading Down 2.5 %

Shares of WDAY opened at $263.00 on Wednesday. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The stock’s 50-day moving average is $262.45 and its two-hundred day moving average is $250.89. 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 stock has a market cap of $69.96 billion, a PE ratio of 43.62, a P/E/G ratio of 3.78 and a beta of 1.35.

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

Analysts Set New Price Targets

WDAY has been the topic of a number of analyst reports. Barclays decreased their price objective on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Mizuho raised their price target on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Guggenheim raised shares of Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. Needham & Company LLC restated a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Thursday, February 6th. Finally, Scotiabank started coverage on shares of Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price for the company. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, Workday has an average rating of “Moderate Buy” and an average price target 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.