Oregon Public Employees Retirement Fund Takes $4.71 Million Position in Workday, Inc. (NASDAQ:WDAY)

Oregon Public Employees Retirement Fund acquired a new stake in Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, HoldingsChannel reports. The fund acquired 18,260 shares of the software maker’s stock, valued at approximately $4,712,000.

Several other large investors also recently made changes to their positions in the stock. Checchi Capital Advisers LLC acquired a new stake in shares of Workday in the 4th quarter valued at approximately $245,000. Red Crane Wealth Management LLC acquired a new stake in shares of Workday in the 4th quarter valued at approximately $361,000. National Pension Service boosted its holdings in shares of Workday by 22.5% in the 4th quarter. National Pension Service now owns 683,874 shares of the software maker’s stock valued at $176,460,000 after buying an additional 125,496 shares during the last quarter. Lake Street Advisors Group LLC raised its stake in Workday by 26.8% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,658 shares of the software maker’s stock valued at $428,000 after acquiring an additional 350 shares during the period. Finally, Kirtland Hills Capital Management LLC raised its stake in Workday by 12.8% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 2,497 shares of the software maker’s stock valued at $644,000 after acquiring an additional 283 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WDAY. The Goldman Sachs Group increased their price target on Workday from $310.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday. Piper Sandler increased their price target on Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday. Mizuho increased their price target on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Wells Fargo & Company increased their price target on Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $301.11.

Workday Stock Up 6.2 %

Shares of NASDAQ WDAY opened at $271.09 on Thursday. The stock’s fifty day moving average is $260.01 and its 200 day moving average is $254.24. The stock has a market capitalization of $72.11 billion, a P/E ratio of 44.96, a PEG ratio of 3.55 and a beta of 1.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $298.50.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Sell-side analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the transaction, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the transaction, the insider now directly owns 60,000 shares in the company, valued at approximately $14,785,200. This represents a 48.28 % 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 valued at $113,142,592. 20.00% of the stock is currently owned by corporate insiders.

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.