Public Employees Retirement System of Ohio Sells 763 Shares of Workday, Inc. (NASDAQ:WDAY)

Public Employees Retirement System of Ohio reduced its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 0.8% in the third quarter, HoldingsChannel reports. The firm owned 94,551 shares of the software maker’s stock after selling 763 shares during the period. Public Employees Retirement System of Ohio’s holdings in Workday were worth $23,109,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in Workday by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after acquiring an additional 1,016,394 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Workday by 17,345.2% during the second quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock worth $208,068,000 after purchasing an additional 925,366 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Workday by 1,094.2% during the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after purchasing an additional 562,400 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after purchasing an additional 480,459 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new position in Workday during the 3rd quarter worth $78,003,000. Institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $245.36, for a total value of $13,740,160.00. Following the completion of the sale, the insider now owns 449,000 shares of the company’s stock, valued at approximately $110,166,640. This trade represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the transaction, the insider now directly owns 85,795 shares in the company, valued at $20,228,745.10. This trade represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 361,463 shares of company stock worth $88,422,088. 20.00% of the stock is owned by corporate insiders.

Workday Trading Up 5.1 %

Shares of WDAY stock opened at $279.91 on Tuesday. The stock has a 50 day simple moving average of $251.13 and a 200-day simple moving average of $237.53. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The company has a market cap of $74.18 billion, a price-to-earnings ratio of 46.42, a PEG ratio of 4.91 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the business posted $0.47 earnings per share. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities research analysts expect that Workday, Inc. will post 2.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WDAY has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Piper Sandler reissued a “neutral” rating and set a $270.00 target price (down previously from $285.00) on shares of Workday in a research report on Wednesday, November 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Thursday, September 19th. Loop Capital lowered their price objective on shares of Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Finally, Evercore ISI cut their target price on Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $289.21.

Workday 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.