Workday, Inc. (NASDAQ:WDAY) Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System boosted its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 3,375.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 142,613 shares of the software maker's stock after purchasing an additional 138,510 shares during the quarter. New York State Teachers Retirement System owned about 0.05% of Workday worth $36,798,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in Workday during the third quarter valued at approximately $26,000. Crews Bank & Trust purchased a new position in shares of Workday in the fourth quarter valued at about $26,000. Avion Wealth boosted its stake in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after purchasing an additional 86 shares during the period. Meeder Asset Management Inc. grew its stake in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock valued at $35,000 after acquiring an additional 43 shares in the last quarter. Finally, New Millennium Group LLC grew its position in shares of Workday by 177.4% during the third quarter. New Millennium Group LLC now owns 147 shares of the software maker's stock valued at $36,000 after purchasing an additional 94 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

Workday Stock Performance

Shares of NASDAQ:WDAY traded down $4.62 during midday trading on Wednesday, reaching $261.10. The company's stock had a trading volume of 2,856,556 shares, compared to its average volume of 2,092,753. The stock has a fifty day moving average of $261.59 and a 200 day moving average of $252.41. The firm has a market capitalization of $69.45 billion, a PE ratio of 43.30, a P/E/G ratio of 3.51 and a beta of 1.35. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. 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 posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $2.13 billion. During the same period in the previous year, the business posted $0.47 EPS. The business's revenue was up 15.8% compared to the same quarter last year. On average, equities analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder David A. Duffield sold 70,090 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total value of $17,840,007.70. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company's stock, valued at approximately $26,215,826.41. This represents a 40.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the firm's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction 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 approximately $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock worth $113,142,592 over the last three months. 20.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WDAY shares. Mizuho boosted their price target on shares of Workday from $280.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Oppenheimer reaffirmed an "outperform" rating and issued a $300.00 price objective on shares of Workday in a research report on Tuesday, December 3rd. StockNews.com lowered Workday from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Bank of America cut their target price on shares of Workday from $310.00 to $285.00 and set a "buy" rating on the stock in a research report on Wednesday, November 27th. Finally, JMP Securities reissued a "market outperform" rating and issued a $315.00 price target on shares of Workday in a research report on Thursday, February 6th. Ten 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, Workday has a consensus rating of "Moderate Buy" and an average price target of $291.11.

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.