Vestcor Inc Has $1.04 Million Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Vestcor Inc reduced its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 78.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,234 shares of the software maker's stock after selling 15,000 shares during the period. Vestcor Inc's holdings in Workday were worth $1,035,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Janus Henderson Group PLC grew its position in Workday by 10.7% during the third 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 in the last quarter. State Street Corp grew its holdings in shares of Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker's stock valued at $1,183,611,000 after acquiring an additional 67,380 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of 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 worth $482,133,000 after acquiring an additional 75,747 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker's stock worth $384,518,000 after acquiring an additional 118,180 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Price Performance

Shares of NASDAQ:WDAY traded down $1.15 during midday trading on Friday, reaching $273.67. 2,888,858 shares of the company's stock were exchanged, compared to its average volume of 2,240,302. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company's 50 day simple moving average is $253.11 and its two-hundred day simple moving average is $238.37. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The firm has a market capitalization of $72.52 billion, a PE ratio of 45.58, a price-to-earnings-growth ratio of 5.02 and a beta of 1.34.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $2.13 billion. During the same quarter last year, the company earned $0.47 earnings per share. The company's revenue for the quarter was up 15.8% compared to the same quarter last year. Equities research analysts expect that Workday, Inc. will post 2.58 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, insider Richard Harry Sauer sold 3,134 shares of the firm's stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total transaction of $738,934.52. Following the completion of the sale, the insider now directly owns 85,795 shares of the company's stock, valued at $20,228,745.10. This trade represents a 3.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the business's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $245.36, for a total value of $13,740,160.00. Following the completion of the transaction, the insider now directly owns 449,000 shares in the company, valued at approximately $110,166,640. This represents a 11.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 361,463 shares of company stock valued at $88,422,088 in the last 90 days. 20.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WDAY. Wells Fargo & Company upped their target price on Workday from $300.00 to $330.00 and gave the stock an "overweight" rating in a research report on Monday. Loop Capital dropped their price objective on Workday from $270.00 to $242.00 and set a "hold" rating on the stock in a report on Wednesday, November 27th. BMO Capital Markets reaffirmed an "outperform" rating and set a $300.00 price objective on shares of Workday in a research report on Wednesday, September 18th. Stifel Nicolaus boosted their target price on shares of Workday from $250.00 to $270.00 and gave the stock a "hold" rating in a research report on Friday, August 23rd. Finally, Scotiabank assumed coverage on shares of Workday in a report on Monday, November 18th. They set a "sector outperform" rating and a $340.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $290.64.

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.