State of Alaska Department of Revenue Acquires 16,664 Shares of Workday, Inc. (NASDAQ:WDAY)

State of Alaska Department of Revenue boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 218.7% in the fourth quarter, HoldingsChannel reports. The firm owned 24,285 shares of the software maker’s stock after purchasing an additional 16,664 shares during the quarter. State of Alaska Department of Revenue’s holdings in Workday were worth $6,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of WDAY. Two Sigma Advisers LP boosted its position in shares of Workday by 1,094.2% in the third 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 during the period. KBC Group NV raised its stake in Workday by 340.3% in the 4th quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock worth $169,199,000 after purchasing an additional 506,812 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after purchasing an additional 480,459 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in shares of Workday in the third quarter valued at approximately $78,003,000. Finally, Lindbrook Capital LLC boosted its stake in shares of Workday by 17,001.6% in the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock valued at $703,000 after buying an additional 284,266 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on WDAY shares. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and raised their price objective for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. StockNews.com downgraded Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Wells Fargo & Company upped their price objective on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. The Goldman Sachs Group raised their target price on shares of Workday from $300.00 to $310.00 and gave the company a “buy” rating in a report on Thursday. Finally, Royal Bank of Canada upped their price target on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and an average target price of $292.43.

Insider Buying and Selling at Workday

In other news, insider Sayan Chakraborty sold 5,498 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the transaction, the insider now directly owns 121,100 shares of the company’s stock, valued at $30,369,458. The trade was a 4.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $13,799,520.00. Following the sale, the insider now directly owns 60,000 shares of the company’s stock, valued at $14,785,200. This represents a 48.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is currently owned by company insiders.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $271.89 on Friday. The firm has a market cap of $72.32 billion, a PE ratio of 45.09, a price-to-earnings-growth ratio of 4.73 and a beta of 1.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The firm’s fifty day moving average is $261.64 and its 200-day moving average is $249.91. 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 (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the company posted $0.47 EPS. The business’s revenue was up 15.8% on a year-over-year basis. Sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share 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.