Maryland State Retirement & Pension System Has $2.92 Million Stock Position in Workday, Inc. (NASDAQ:WDAY)

Maryland State Retirement & Pension System trimmed its position in Workday, Inc. (NASDAQ:WDAY) by 7.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,302 shares of the software maker’s stock after selling 860 shares during the period. Maryland State Retirement & Pension System’s holdings in Workday were worth $2,916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Crews Bank & Trust bought a new position in Workday during the fourth quarter worth $26,000. Roxbury Financial LLC bought a new position in Workday during the fourth quarter worth $25,000. Avion Wealth increased its position in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares during the period. TCTC Holdings LLC bought a new position in Workday during the fourth quarter worth $35,000. Finally, Meeder Asset Management Inc. increased its position in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 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 recently issued reports on WDAY shares. Redburn Atlantic started coverage on shares of Workday in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. BMO Capital Markets boosted their target price on shares of Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Barclays lowered their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Wells Fargo & Company boosted their price target on shares of Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Morgan Stanley lowered shares of Workday from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $300.36.

Workday Stock Down 0.8 %

Shares of NASDAQ WDAY opened at $250.47 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The company has a market cap of $66.63 billion, a price-to-earnings ratio of 41.54, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The firm’s 50-day simple moving average is $256.76 and its 200 day simple moving average is $255.24.

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

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $265.70, for a total transaction of $14,879,200.00. Following the transaction, the insider now directly owns 228,000 shares in the company, valued at approximately $60,579,600. This represents a 19.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the transaction, the director now owns 75,000 shares in the company, valued at approximately $18,099,750. The trade was a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 473,001 shares of company stock worth $120,614,400. Company insiders own 20.00% of the company’s stock.

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.