State Board of Administration of Florida Retirement System Buys 2,550 Shares of Workday, Inc. $WDAY

State Board of Administration of Florida Retirement System increased its stake in Workday, Inc. (NASDAQ:WDAY) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 203,498 shares of the software maker’s stock after buying an additional 2,550 shares during the period. State Board of Administration of Florida Retirement System owned 0.08% of Workday worth $48,840,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in WDAY. Dagco Inc. bought a new stake in Workday in the first quarter worth $31,000. Golden State Wealth Management LLC raised its position in shares of Workday by 2,216.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock worth $33,000 after purchasing an additional 133 shares during the last quarter. Physician Wealth Advisors Inc. bought a new position in Workday in the 2nd quarter worth about $42,000. Geneos Wealth Management Inc. boosted its stake in Workday by 211.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after purchasing an additional 127 shares in the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new stake in Workday during the 1st quarter valued at about $48,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Trading Up 0.2%

Shares of NASDAQ:WDAY opened at $215.69 on Friday. The stock’s 50-day simple moving average is $233.23 and its two-hundred day simple moving average is $235.97. The stock has a market capitalization of $57.59 billion, a price-to-earnings ratio of 90.63, a PEG ratio of 2.67 and a beta of 1.11. Workday, Inc. has a 52-week low of $205.33 and a 52-week high of $294.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.10 and a current ratio of 1.83.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, beating the consensus estimate of $2.17 by $0.15. The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.42 billion. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.89 EPS. Analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Insiders Place Their Bets

In related news, insider Richard Harry Sauer sold 2,320 shares of the firm’s stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $235.87, for a total value of $547,218.40. Following the transaction, the insider directly owned 90,077 shares of the company’s stock, valued at approximately $21,246,461.99. This trade represents a 2.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $237.52, for a total value of $1,484,500.00. Following the transaction, the chief executive officer owned 20,222 shares in the company, valued at $4,803,129.44. This trade represents a 23.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 264,933 shares of company stock valued at $61,475,760. 19.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and set a $315.00 price target on shares of Workday in a research report on Wednesday, September 17th. Sanford C. Bernstein reduced their target price on Workday from $304.00 to $298.00 and set an “outperform” rating for the company in a report on Wednesday. Evercore ISI boosted their price target on Workday from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. BMO Capital Markets lowered their price target on Workday from $314.00 to $285.00 and set an “outperform” rating on the stock in a report on Friday, August 22nd. Finally, Cowen reiterated a “buy” rating on shares of Workday in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $282.70.

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.