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

Teachers Retirement System of The State of Kentucky grew its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,943 shares of the software maker's stock after acquiring an additional 1,954 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Workday were worth $20,771,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Private Trust Co. NA grew its holdings in Workday by 15.2% during the first quarter. Private Trust Co. NA now owns 318 shares of the software maker's stock valued at $74,000 after purchasing an additional 42 shares during the period. CreativeOne Wealth LLC boosted its holdings in shares of Workday by 1.5% in the fourth quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker's stock valued at $745,000 after buying an additional 43 shares during the period. Salvus Wealth Management LLC boosted its holdings in shares of Workday by 2.8% in the first quarter. Salvus Wealth Management LLC now owns 1,658 shares of the software maker's stock valued at $387,000 after buying an additional 45 shares during the period. Ashton Thomas Securities LLC lifted its position in shares of Workday by 3.2% in the fourth quarter. Ashton Thomas Securities LLC now owns 1,494 shares of the software maker's stock worth $385,000 after purchasing an additional 46 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in Workday by 15.0% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 353 shares of the software maker's stock worth $82,000 after acquiring an additional 46 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Workday Stock Up 0.3%

Shares of NASDAQ:WDAY traded up $0.65 on Monday, hitting $233.71. 2,174,440 shares of the company's stock were exchanged, compared to its average volume of 2,483,970. The firm's 50-day moving average is $245.83 and its 200 day moving average is $247.13. The company has a market capitalization of $62.40 billion, a PE ratio of 89.99, a P/E/G ratio of 3.52 and a beta of 1.21. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. 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 posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $2.01 by $0.22. The company had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. The firm's revenue for the quarter was up 12.6% on a year-over-year basis. During the same period last year, the firm earned $1.74 EPS. Sell-side analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Analysts Set New Price Targets

WDAY has been the topic of a number of analyst reports. Morgan Stanley set a $255.00 price objective on shares of Workday and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. Citigroup lowered shares of Workday from a "neutral" rating to a "mixed" rating in a report on Friday, May 16th. Loop Capital dropped their price objective on shares of Workday from $285.00 to $250.00 and set a "hold" rating for the company in a report on Friday, May 23rd. Stifel Nicolaus dropped their price objective on shares of Workday from $310.00 to $275.00 and set a "hold" rating for the company in a report on Friday, May 23rd. Finally, KeyCorp lowered their price target on shares of Workday from $335.00 to $325.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $296.88.

Insider Activity

In related news, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $239.59, for a total value of $1,437,540.00. Following the transaction, the chief financial officer owned 178,418 shares in the company, valued at approximately $42,747,168.62. This trade represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $239.43, for a total value of $1,496,437.50. Following the transaction, the chief executive officer owned 1,472 shares in the company, valued at approximately $352,440.96. This represents a 80.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 329,005 shares of company stock worth $79,203,523 in the last quarter. 20.00% of the stock is currently owned by corporate insiders.

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.