New York State Teachers Retirement System Reduces Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

New York State Teachers Retirement System cut its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 1.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,062 shares of the software maker's stock after selling 2,551 shares during the period. New York State Teachers Retirement System owned about 0.05% of Workday worth $32,709,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. TCTC Holdings LLC purchased a new position in Workday during the fourth quarter worth about $35,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Workday during the 1st quarter valued at about $32,000. Rakuten Securities Inc. lifted its holdings in shares of Workday by 78.6% during the 4th 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. Financial Management Professionals Inc. boosted its position in shares of Workday by 54.0% in 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 last quarter. Finally, Pinnacle Bancorp Inc. acquired a new stake in shares of Workday in the first quarter worth approximately $40,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Trading Up 2.4%

NASDAQ:WDAY traded up $5.77 during mid-day trading on Thursday, hitting $243.51. 622,550 shares of the company's stock were exchanged, compared to its average volume of 2,454,200. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.33. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The firm has a market capitalization of $65.02 billion, a P/E ratio of 134.58, a PEG ratio of 3.61 and a beta of 1.21. The company has a 50 day simple moving average of $249.12 and a 200-day simple moving average of $250.17.

Workday (NASDAQ:WDAY - Get Free Report) last issued its earnings results 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. Workday had a return on equity of 8.00% and a net margin of 5.60%. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the company posted $1.74 earnings per share. The firm's revenue for the quarter was up 12.6% on a year-over-year basis. As a group, research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Analysts Set New Price Targets

WDAY has been the topic of a number of research reports. Piper Sandler restated a "neutral" rating and issued a $255.00 price objective (up from $230.00) on shares of Workday in a report on Friday, May 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Mizuho decreased their price target on shares of Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Oppenheimer lowered their price objective on Workday from $320.00 to $300.00 and set an "outperform" rating for the company in a report on Friday, May 23rd. Finally, Loop Capital lowered their target price on shares of Workday from $285.00 to $250.00 and set a "hold" rating for the company in a research note on Friday, May 23rd. Nine research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $297.68.

Insider Buying and Selling

In related news, Director George J. Still, Jr. sold 7,500 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $248.41, for a total value of $1,863,075.00. Following the transaction, the director directly owned 67,500 shares of the company's stock, valued at approximately $16,767,675. The trade was a 10.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 497 shares of the firm'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 transaction, the chief accounting officer owned 34,385 shares of the company's stock, valued at approximately $7,789,921.75. This represents a 1.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 252,608 shares of company stock valued at $58,916,144 in the last 90 days. Insiders own 19.31% of the company's stock.

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.