New Mexico Educational Retirement Board Invests $2.66 Million in Workday, Inc. (NASDAQ:WDAY)

New Mexico Educational Retirement Board acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 10,300 shares of the software maker's stock, valued at approximately $2,658,000.

Other large investors have also made changes to their positions in the company. Crews Bank & Trust purchased a new position in Workday in the 4th quarter worth approximately $26,000. Avion Wealth grew its holdings in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Workday during the third quarter valued at about $26,000. Meeder Asset Management Inc. increased its position in shares of 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 last quarter. Finally, True Wealth Design LLC lifted its stake in shares of Workday by 4,766.7% in the third quarter. True Wealth Design LLC now owns 146 shares of the software maker's stock worth $36,000 after acquiring an additional 143 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Price Performance

WDAY traded down $4.62 during trading on Wednesday, reaching $261.10. The stock had a trading volume of 2,855,288 shares, compared to its average volume of 2,084,576. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The firm has a market capitalization of $69.45 billion, a price-to-earnings ratio of 43.30, a price-to-earnings-growth ratio of 3.51 and a beta of 1.35. The stock has a 50 day moving average of $261.59 and a two-hundred day moving average of $252.41. 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 (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.13 billion. During the same period in the previous year, the business earned $0.47 earnings per share. Workday's revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on WDAY shares. Scotiabank initiated coverage on shares of Workday in a research report on Monday, November 18th. They set a "sector outperform" rating and a $340.00 price target for the company. StockNews.com downgraded shares of Workday from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Oppenheimer reaffirmed an "outperform" rating and set a $300.00 price target on shares of Workday in a research report on Tuesday, December 3rd. Guggenheim upgraded Workday from a "sell" rating to a "neutral" rating in a research note on Monday, January 6th. Finally, Redburn Atlantic assumed coverage on Workday in a report on Wednesday. They set a "neutral" rating on the stock. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $291.11.

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the business's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $246.42, for a total transaction 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. The trade was a 48.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 over the last ninety days. 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.