Illinois Municipal Retirement Fund Cuts Position in Workday, Inc. (NASDAQ:WDAY)

Illinois Municipal Retirement Fund trimmed its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 63.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WDAY. Janus Henderson Group PLC increased its position in shares of Workday by 10.7% during 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 last quarter. State Street Corp grew its position in Workday by 1.4% during the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after buying an additional 67,380 shares during the period. Geode Capital Management LLC increased its holdings in Workday by 2.7% during the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after buying an additional 76,618 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Workday by 0.6% in the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after acquiring an additional 14,159 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Workday by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock valued at $482,133,000 after acquiring an additional 75,747 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Price Performance

WDAY stock opened at $260.57 on Friday. The firm has a 50 day simple moving average of $259.89 and a two-hundred day simple moving average of $254.28. The stock has a market cap of $69.31 billion, a PE ratio of 43.21, a P/E/G ratio of 3.55 and a beta of 1.35. Workday, Inc. has a one year low of $199.81 and a one year high of $298.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

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

Insider Activity

In other news, major shareholder David A. Duffield sold 70,003 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total value of $17,584,753.60. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $25,872,846.40. The trade was a 40.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 433,321 shares of company stock worth $111,763,803. 20.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on WDAY shares. Barclays decreased their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Wells Fargo & Company raised their target price on Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank of Canada upped their price target on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday. Bank of America decreased their price objective on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, UBS Group upped their price objective on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus target price of $302.14.

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.