South Dakota Investment Council Invests $948,000 in Workday, Inc. $WDAY

South Dakota Investment Council acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY) during the first quarter, HoldingsChannel reports. The fund acquired 7,300 shares of the software maker’s stock, valued at approximately $948,000.

A number of other hedge funds also recently bought and sold shares of WDAY. Strategic Investment Advisors MI boosted its stake in Workday by 1.6% in the second quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker’s stock worth $777,000 after buying an additional 50 shares in the last quarter. Red Door Wealth Management LLC boosted its stake in shares of Workday by 5.0% in the 4th quarter. Red Door Wealth Management LLC now owns 1,620 shares of the software maker’s stock valued at $348,000 after purchasing an additional 77 shares in the last quarter. L2 Asset Management LLC boosted its stake in shares of Workday by 7.8% in the 4th quarter. L2 Asset Management LLC now owns 1,079 shares of the software maker’s stock valued at $232,000 after purchasing an additional 78 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Workday by 0.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 24,798 shares of the software maker’s stock valued at $5,326,000 after purchasing an additional 80 shares during the last quarter. Finally, Stevens Capital Management LP grew its holdings in shares of Workday by 4.3% during the 4th quarter. Stevens Capital Management LP now owns 2,054 shares of the software maker’s stock valued at $441,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In related news, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total transaction of $862,200.00. Following the completion of the sale, the chief financial officer directly owned 288,460 shares in the company, valued at approximately $41,451,702. The trade was a 2.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Robert Enslin sold 5,374 shares of the company’s stock in a transaction that occurred on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total transaction of $724,952.60. Following the sale, the insider directly owned 239,469 shares of the company’s stock, valued at approximately $32,304,368.10. This represents a 2.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 875,020 shares of company stock valued at $113,938,503. 18.64% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. CLSA assumed coverage on shares of Workday in a research note on Monday, July 20th. They issued an “underperform” rating and a $92.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Workday in a research note on Wednesday, June 17th. BTIG Research reiterated a “buy” rating and issued a $175.00 price objective on shares of Workday in a report on Monday, May 18th. Jefferies Financial Group boosted their price objective on shares of Workday from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Friday, May 22nd. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $179.80.

Workday Price Performance

NASDAQ WDAY opened at $160.34 on Friday. The stock has a market capitalization of $39.60 billion, a price-to-earnings ratio of 50.11, a PEG ratio of 1.68 and a beta of 1.11. Workday, Inc. has a 1-year low of $110.36 and a 1-year high of $249.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The business’s fifty day moving average price is $136.31 and its 200-day moving average price is $140.07.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. The company had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.Workday’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.23 earnings per share. On average, equities analysts predict that Workday, Inc. will post 5.38 earnings per share for the current year.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.