Illinois Municipal Retirement Fund Reduces Holdings in Workday, Inc. (NASDAQ:WDAY)

Illinois Municipal Retirement Fund lowered its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 63.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,369 shares of the software maker’s stock after selling 19,951 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Workday were worth $2,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of WDAY. Two Sigma Advisers LP boosted its position in 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 acquiring an additional 562,400 shares in the last quarter. KBC Group NV boosted its position in shares of Workday by 340.3% during the fourth quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock valued at $169,199,000 after purchasing an additional 506,812 shares in the last quarter. Janus Henderson Group PLC grew its stake in Workday by 10.7% in the third 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 during the period. Principal Financial Group Inc. raised its holdings in Workday by 2,166.1% in the fourth quarter. Principal Financial Group Inc. now owns 403,224 shares of the software maker’s stock worth $104,044,000 after purchasing an additional 385,430 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Workday by 28.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,465,917 shares of the software maker’s stock worth $378,250,000 after purchasing an additional 326,251 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on WDAY shares. Wells Fargo & Company upped their target price on shares of Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 target price on shares of Workday in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and lifted their target price for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. StockNews.com downgraded Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada lifted their price objective on Workday from $320.00 to $340.00 and gave the company an “outperform” 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $302.14.

Insiders Place Their Bets

In other news, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. This represents a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 value of $1,586,625.00. Following the transaction, the chief executive officer now owns 13,972 shares in the company, valued at $3,546,931.92. This trade represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 433,321 shares of company stock worth $111,763,803. Company insiders own 20.00% of the company’s stock.

Workday Stock Down 3.9 %

Workday stock opened at $260.57 on Friday. Workday, Inc. has a one year low of $199.81 and a one year high of $298.50. The stock has a fifty day moving average of $259.89 and a 200 day moving average of $254.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a market cap of $69.31 billion, a PE ratio of 43.21, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued 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 the consensus estimate of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. As a group, sell-side analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Workday Company 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.