Teachers Retirement System of The State of Kentucky Lowers Holdings in Workday, Inc. $WDAY

Teachers Retirement System of The State of Kentucky lowered its holdings in Workday, Inc. (NASDAQ:WDAY) by 25.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,622 shares of the software maker’s stock after selling 22,631 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Workday were worth $15,797,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in WDAY. Rakuten Securities Inc. purchased a new position in Workday in the 2nd quarter valued at approximately $25,000. Berbice Capital Management LLC raised its stake in shares of Workday by 136.4% in the second quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock valued at $31,000 after acquiring an additional 75 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in Workday by 2,216.7% in the second quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock valued at $33,000 after purchasing an additional 133 shares during the period. Root Financial Partners LLC acquired a new position in Workday during the 3rd quarter worth $40,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in Workday during the 2nd quarter worth about $41,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Gerrit S. Kazmaier sold 3,759 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $208.73, for a total value of $784,616.07. Following the completion of the sale, the insider owned 105,167 shares in the company, valued at approximately $21,951,507.91. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard Harry Sauer sold 1,130 shares of Workday stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $210.00, for a total transaction of $237,300.00. Following the completion of the sale, the insider directly owned 85,398 shares in the company, valued at approximately $17,933,580. The trade was a 1.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 288,296 shares of company stock worth $61,461,516 over the last quarter. 20.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Jefferies Financial Group cut Workday from a “buy” rating to a “hold” rating and decreased their price objective for the company from $325.00 to $150.00 in a research note on Monday, February 23rd. Stifel Nicolaus set a $175.00 price target on shares of Workday in a research note on Monday, February 9th. Rosenblatt Securities lowered their price target on shares of Workday from $180.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Evercore lowered shares of Workday from an “outperform” rating to an “in-line” rating and set a $160.00 price objective on the stock. in a report on Wednesday, February 25th. Finally, Oppenheimer decreased their price objective on shares of Workday from $200.00 to $165.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Twenty research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $205.19.

Workday Stock Performance

Shares of WDAY stock opened at $143.61 on Wednesday. The stock’s 50-day moving average is $176.41 and its two-hundred day moving average is $210.59. The firm has a market cap of $37.77 billion, a price-to-earnings ratio of 55.66, a PEG ratio of 1.31 and a beta of 1.16. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.83 and a current ratio of 1.32. Workday, Inc. has a 1 year low of $117.76 and a 1 year high of $276.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.15. Workday had a return on equity of 13.37% and a net margin of 7.26%.The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the business earned $1.92 earnings per share. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. Analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.