Workday, Inc. (NASDAQ:WDAY) Shares Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 12.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,989 shares of the software maker's stock after acquiring an additional 9,628 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Workday were worth $22,445,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Crews Bank & Trust purchased a new position in shares of Workday during the 4th quarter worth approximately $26,000. Roxbury Financial LLC acquired a new stake in Workday during the 4th quarter valued at $25,000. Avion Wealth increased its position in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after buying an additional 86 shares in the last quarter. TCTC Holdings LLC acquired a new position in shares of Workday in the fourth quarter worth $35,000. Finally, Rakuten Securities Inc. lifted its position in shares of Workday by 78.6% in the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after acquiring an additional 66 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Stock Up 1.1 %

Shares of WDAY traded up $2.66 during midday trading on Friday, hitting $239.53. The company had a trading volume of 1,094,740 shares, compared to its average volume of 2,344,011. 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, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The company's 50 day moving average price is $241.26 and its 200 day moving average price is $251.77. The stock has a market cap of $63.71 billion, a price-to-earnings ratio of 39.72, a PEG ratio of 3.55 and a beta of 1.32.

Workday (NASDAQ:WDAY - Get Free Report) last announced 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). The firm had revenue of $2.21 billion for 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 research analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Insider Activity at Workday

In related news, CEO Carl M. Eschenbach sold 3,125 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total transaction of $733,156.25. Following the sale, the chief executive officer now owns 10,847 shares in the company, valued at $2,544,814.67. This represents a 22.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sayan Chakraborty sold 6,056 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the transaction, the insider now directly owns 111,324 shares in the company, valued at $29,556,522. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 321,724 shares of company stock valued at $77,976,126. Corporate insiders own 20.00% of the company's stock.

Analyst Ratings Changes

WDAY has been the subject of several analyst reports. Scotiabank cut their target price on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. JPMorgan Chase & Co. upped their price objective on shares of Workday from $285.00 to $310.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Oppenheimer boosted their price target on Workday from $300.00 to $320.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Wells Fargo & Company lowered their price objective on Workday from $360.00 to $325.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, Canaccord Genuity Group increased their target price on Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $292.86.

About Workday

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.