Teacher Retirement System of Texas Sells 100,440 Shares of Workday, Inc. (NASDAQ:WDAY)

Teacher Retirement System of Texas reduced its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 88.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,563 shares of the software maker's stock after selling 100,440 shares during the quarter. Teacher Retirement System of Texas' holdings in Workday were worth $3,242,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Janus Henderson Group PLC raised its position in Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker's stock worth $1,218,415,000 after acquiring an additional 480,459 shares during the period. State Street Corp increased its stake 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 worth $1,183,611,000 after purchasing an additional 67,380 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Workday by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker's stock worth $698,285,000 after purchasing an additional 76,618 shares during the period. Parnassus Investments LLC raised its holdings in shares of Workday by 562.2% in the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock worth $631,589,000 after purchasing an additional 2,078,097 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in 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 valued at $566,094,000 after purchasing an additional 14,159 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

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Workday Trading Down 2.5 %

Workday stock traded down $6.06 during mid-day trading on Friday, reaching $238.49. 1,888,639 shares of the company traded hands, compared to its average volume of 2,522,044. 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, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The firm has a market capitalization of $63.44 billion, a price-to-earnings ratio of 39.55, a P/E/G ratio of 3.55 and a beta of 1.38. The firm's 50 day moving average price is $256.67 and its 200 day moving average price is $254.82.

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

Insiders Place Their Bets

In other news, insider Sayan Chakraborty sold 6,056 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the sale, the insider now owns 111,324 shares in the company, valued at approximately $29,556,522. The trade was a 5.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 71,672 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the completion of the transaction, the insider now owns 102,997 shares of the company's stock, valued at approximately $25,602,994.26. The trade was a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 487,145 shares of company stock worth $123,289,438. Company insiders own 20.00% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on WDAY shares. KeyCorp boosted their target price on Workday from $305.00 to $335.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Needham & Company LLC reiterated a "buy" rating and issued a $300.00 price objective on shares of Workday in a research report on Monday, March 24th. Mizuho boosted their target price on Workday from $280.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Wells Fargo & Company lifted their price target on Workday from $330.00 to $360.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley lowered shares of Workday from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $330.00 to $275.00 in a research report on Wednesday, February 19th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $300.36.

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.