Kentucky Retirement Systems Takes Position in Workday, Inc. (NASDAQ:WDAY)

Kentucky Retirement Systems bought a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,451 shares of the software maker's stock, valued at approximately $3,375,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WDAY. Farmers & Merchants Investments Inc. acquired a new stake in Workday during the first quarter worth about $32,000. TCTC Holdings LLC acquired a new stake in Workday during the fourth quarter worth about $35,000. Financial Management Professionals Inc. grew its holdings in Workday by 54.0% during the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock worth $36,000 after acquiring an additional 54 shares during the period. Rakuten Securities Inc. grew its holdings in Workday by 78.6% during the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock worth $39,000 after acquiring an additional 66 shares during the period. Finally, Rothschild Investment LLC grew its holdings in Workday by 169.6% during the first quarter. Rothschild Investment LLC now owns 213 shares of the software maker's stock worth $50,000 after acquiring an additional 134 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WDAY has been the topic of several analyst reports. Loop Capital dropped their target price on Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a report on Friday, May 23rd. The Goldman Sachs Group boosted their price objective on Workday from $310.00 to $345.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $340.00 price objective on shares of Workday in a report on Friday, May 23rd. Westpark Capital boosted their price objective on Workday from $315.00 to $328.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Morgan Stanley set a $255.00 price objective on Workday and gave the company an "equal weight" rating in a report on Friday, May 23rd. Nine equities 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. According to MarketBeat, Workday has an average rating of "Moderate Buy" and an average price target of $293.54.

Workday Trading Up 0.6%

WDAY opened at $238.19 on Monday. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The company has a market cap of $63.60 billion, a P/E ratio of 131.60, a PEG ratio of 3.60 and a beta of 1.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. The business's 50-day simple moving average is $247.01 and its 200-day simple moving average is $251.83.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $2.22 billion. During the same period in the previous year, the company earned $1.74 earnings per share. Workday's quarterly revenue was up 12.6% compared to the same quarter last year. As a group, equities research analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity at Workday

In related news, CAO Mark S. Garfield sold 497 shares of the company's stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $226.55, for a total value of $112,595.35. Following the completion of the sale, the chief accounting officer now directly owns 34,385 shares of the company's stock, valued at $7,789,921.75. This represents a 1.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carl M. Eschenbach sold 3,125 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total value of $733,156.25. Following the completion of the sale, the chief executive officer now directly owns 10,847 shares of the company's stock, valued at approximately $2,544,814.67. This trade represents a 22.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 181,762 shares of company stock valued at $41,995,382 in the last three months. 20.00% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding WDAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Workday, Inc. (NASDAQ:WDAY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.