Illinois Municipal Retirement Fund Decreases Stock Position in Workday, Inc. (NASDAQ:WDAY)

Illinois Municipal Retirement Fund lessened its position in Workday, Inc. (NASDAQ:WDAY) by 8.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 36,502 shares of the software maker’s stock after selling 3,189 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Workday were worth $10,077,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in WDAY. Wellington Management Group LLP lifted its position in shares of Workday by 37.4% in the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after acquiring an additional 1,406,153 shares in the last quarter. Winslow Capital Management LLC lifted its position in Workday by 76.4% during the third quarter. Winslow Capital Management LLC now owns 2,310,619 shares of the software maker’s stock worth $496,436,000 after buying an additional 1,000,922 shares in the last quarter. Morgan Stanley lifted its position in Workday by 47.0% during the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after buying an additional 872,288 shares in the last quarter. Alkeon Capital Management LLC purchased a new position in Workday during the third quarter worth approximately $107,425,000. Finally, Invesco Ltd. lifted its position in Workday by 22.1% during the third quarter. Invesco Ltd. now owns 1,802,209 shares of the software maker’s stock worth $387,205,000 after buying an additional 326,283 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock opened at $256.82 on Wednesday. The stock has a market capitalization of $67.80 billion, a PE ratio of 49.87, a price-to-earnings-growth ratio of 6.33 and a beta of 1.32. Workday, Inc. has a 52-week low of $174.25 and a 52-week high of $311.28. The stock’s 50-day moving average price is $276.48 and its 200 day moving average price is $263.66. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.10. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.14) EPS. As a group, equities research analysts forecast that Workday, Inc. will post 1.76 EPS for the current year.

Insider Activity at Workday

In related news, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total value of $916,918.59. Following the transaction, the insider now owns 165,932 shares in the company, valued at approximately $48,749,162.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the transaction, the insider now owns 165,932 shares in the company, valued at approximately $48,749,162.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas A. Robinson sold 411 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total value of $109,695.90. Following the transaction, the insider now owns 165,521 shares in the company, valued at approximately $44,177,554.90. The disclosure for this sale can be found here. Insiders have sold 435,691 shares of company stock worth $117,731,569 in the last quarter. Company insiders own 21.09% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Evercore ISI lifted their price objective on Workday from $310.00 to $350.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. BMO Capital Markets raised their target price on Workday from $290.00 to $338.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. UBS Group cut their target price on Workday from $315.00 to $300.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Barclays cut their target price on Workday from $326.00 to $316.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $300.00 price objective on shares of Workday in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $293.61.

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.