Workday, Inc. (NASDAQ:WDAY) Shares Purchased by California Public Employees Retirement System

California Public Employees Retirement System lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 19.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 720,971 shares of the software maker's stock after acquiring an additional 116,161 shares during the quarter. California Public Employees Retirement System owned about 0.27% of Workday worth $186,032,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in WDAY. CreativeOne Wealth LLC purchased a new stake in shares of Workday in the third quarter worth about $696,000. Captrust Financial Advisors lifted its position in Workday by 24.2% during the 3rd quarter. Captrust Financial Advisors now owns 12,853 shares of the software maker's stock worth $3,141,000 after acquiring an additional 2,506 shares in the last quarter. Fred Alger Management LLC purchased a new position in Workday in the 3rd quarter worth approximately $56,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Workday by 49.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 347,625 shares of the software maker's stock worth $84,963,000 after acquiring an additional 115,696 shares during the period. Finally, Wasatch Advisors LP grew its position in Workday by 69.4% in the third quarter. Wasatch Advisors LP now owns 11,687 shares of the software maker's stock valued at $2,856,000 after acquiring an additional 4,787 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In other news, major shareholder David A. Duffield sold 70,144 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $250.26, for a total value of $17,554,237.44. Following the sale, the insider now owns 102,997 shares of the company's stock, valued at approximately $25,776,029.22. The trade was a 40.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the firm's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the transaction, the chief executive officer now directly owns 13,972 shares of the company's stock, valued at $3,546,931.92. This represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 429,316 shares of company stock valued at $108,168,536. Company insiders own 20.00% of the company's stock.

Workday Stock Performance

NASDAQ:WDAY traded down $5.49 during mid-day trading on Thursday, hitting $229.90. The stock had a trading volume of 3,186,470 shares, compared to its average volume of 2,535,033. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $61.15 billion, a price-to-earnings ratio of 38.05, a P/E/G ratio of 3.55 and a beta of 1.38. The company has a 50 day simple moving average of $255.66 and a 200-day simple moving average of $254.45.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data 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). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. On average, research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WDAY has been the subject of several analyst reports. The Goldman Sachs Group upped their target price on shares of Workday from $310.00 to $345.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Morgan Stanley cut shares of Workday from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $330.00 to $275.00 in a research report on Wednesday, February 19th. BNP Paribas raised Workday to a "strong-buy" rating in a research report on Friday, February 14th. StockNews.com cut Workday from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Finally, Daiwa America upgraded Workday to a "strong-buy" rating in a research note on Tuesday, March 4th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $300.18.

Workday Company 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.