Kentucky Retirement Systems Insurance Trust Fund Makes New $1.44 Million Investment in Workday, Inc. (NASDAQ:WDAY)

Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,155 shares of the software maker's stock, valued at approximately $1,437,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock valued at $5,197,447,000 after acquiring an additional 4,517,272 shares during the period. Geode Capital Management LLC increased its position in Workday by 61.9% in the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock valued at $1,193,105,000 after acquiring an additional 1,772,223 shares during the period. The Manufacturers Life Insurance Company increased its position in Workday by 60.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock valued at $960,454,000 after acquiring an additional 1,406,088 shares during the period. Brown Advisory Inc. increased its position in Workday by 1.5% in the 4th quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker's stock valued at $911,027,000 after acquiring an additional 52,104 shares during the period. Finally, FIL Ltd increased its position in Workday by 6.5% in the 4th quarter. FIL Ltd now owns 2,963,124 shares of the software maker's stock valued at $764,575,000 after acquiring an additional 181,899 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Stock Down 0.7%

Shares of Workday stock traded down $1.61 during trading hours on Monday, reaching $236.58. The company's stock had a trading volume of 1,750,606 shares, compared to its average volume of 2,457,739. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The company has a market capitalization of $63.17 billion, a P/E ratio of 130.71, a P/E/G ratio of 3.60 and a beta of 1.24. The stock's fifty day simple moving average is $247.10 and its two-hundred day simple moving average is $251.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.22. Workday had a net margin of 5.60% and a return on equity of 8.00%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the firm earned $1.74 earnings per share. The business's quarterly revenue was up 12.6% compared to the same quarter last year. On average, research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 81,275 shares of the firm's stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the transaction, the insider now directly owns 102,997 shares of the company's stock, valued at $22,111,395.96. This trade represents a 44.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director George J. Still, Jr. sold 7,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the transaction, the director now directly owns 67,500 shares in the company, valued at $16,767,675. The trade was a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,762 shares of company stock valued at $41,995,382. Corporate insiders own 20.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on WDAY shares. BMO Capital Markets upped their price target on shares of Workday from $300.00 to $314.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Oppenheimer decreased their price target on shares of Workday from $320.00 to $300.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. DA Davidson upped their price target on shares of Workday from $230.00 to $250.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Daiwa America upgraded shares of Workday to a "strong-buy" rating in a research report on Tuesday, March 4th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $300.00 price objective on shares of Workday in a research report on Wednesday, May 21st. Nine research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Workday currently has an average rating of "Moderate Buy" and an average target price of $293.54.

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.