Commonwealth of Pennsylvania Public School Empls Retrmt SYS Takes Position in Workday, Inc. (NASDAQ:WDAY)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 45,290 shares of the software maker's stock, valued at approximately $11,686,000.

Several other hedge funds have also made changes to their positions in WDAY. Simplicity Wealth LLC increased its holdings in Workday by 3.0% during the fourth quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker's stock valued at $330,000 after buying an additional 37 shares during the period. Marcum Wealth LLC increased its holdings in shares of Workday by 4.4% in the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker's stock valued at $249,000 after acquiring an additional 41 shares during the period. Custom Index Systems LLC raised its position in shares of Workday by 3.0% in the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker's stock worth $364,000 after acquiring an additional 41 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of Workday by 0.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker's stock worth $1,243,000 after purchasing an additional 43 shares during the last quarter. Finally, Fulton Bank N.A. boosted its position in Workday by 1.3% during the fourth quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker's stock valued at $954,000 after purchasing an additional 48 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. BNP Paribas upgraded shares of Workday to a "strong-buy" rating in a report on Friday, February 14th. Citigroup decreased their target price on shares of Workday from $287.00 to $270.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Bank of America lowered their target price on shares of Workday from $310.00 to $285.00 and set a "buy" rating for the company in a research note on Wednesday, November 27th. JPMorgan Chase & Co. upped their price target on Workday from $285.00 to $310.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Finally, Barclays lowered their price objective on Workday from $314.00 to $305.00 and set an "overweight" rating for the company in a research report on Wednesday, November 27th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $300.36.

Workday Price Performance

NASDAQ WDAY traded up $2.92 during trading hours on Tuesday, reaching $252.83. The company's stock had a trading volume of 1,176,580 shares, compared to its average volume of 2,424,524. The firm has a market capitalization of $67.25 billion, a price-to-earnings ratio of 41.93, a P/E/G ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The company's 50-day moving average is $256.97 and its two-hundred day moving average is $255.03. 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 - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, equities analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $261.75, for a total value of $14,658,000.00. Following the completion of the sale, the insider now owns 172,000 shares of the company's stock, valued at $45,021,000. This represents a 24.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the sale, the director now directly owns 6,845 shares in the company, valued at approximately $1,732,401.05. The trade was a 21.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 417,001 shares of company stock worth $105,735,200 in the last three months. 20.00% of the stock is owned by corporate insiders.

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.