77,403 Shares in Workday, Inc. (NASDAQ:WDAY) Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY – Get Rating) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 77,403 shares of the software maker’s stock, valued at approximately $11,782,000.

Other institutional investors have also recently bought and sold shares of the company. AllSquare Wealth Management LLC acquired a new stake in shares of Workday in the 3rd quarter valued at $25,000. Guardian Wealth Advisors LLC bought a new stake in Workday during the 3rd quarter worth approximately $29,000. Whittier Trust Co. boosted its position in Workday by 69.0% during the 3rd quarter. Whittier Trust Co. now owns 213 shares of the software maker’s stock worth $32,000 after acquiring an additional 87 shares during the last quarter. CoreCap Advisors LLC acquired a new position in Workday during the 2nd quarter worth approximately $38,000. Finally, CI Investments Inc. boosted its holdings in shares of Workday by 975.0% in the 3rd quarter. CI Investments Inc. now owns 258 shares of the software maker’s stock valued at $39,000 after buying an additional 234 shares during the last quarter. Institutional investors and hedge funds own 66.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WDAY. Canaccord Genuity Group increased their price target on Workday from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. Cowen lifted their target price on Workday from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday, February 28th. Barclays decreased their price objective on Workday from $220.00 to $216.00 and set an “overweight” rating for the company in a report on Tuesday, February 28th. Robert W. Baird cut their target price on Workday from $223.00 to $220.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 28th. Finally, Wells Fargo & Company lifted their target price on Workday from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, February 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $213.72.

Workday Trading Up 4.0 %

WDAY stock opened at $191.72 on Friday. The company’s 50-day simple moving average is $180.34 and its 200-day simple moving average is $163.94. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.53. Workday, Inc. has a 52-week low of $128.72 and a 52-week high of $248.92. The firm has a market cap of $49.66 billion, a P/E ratio of -133.14, a PEG ratio of 87.87 and a beta of 1.26.

Workday (NASDAQ:WDAY – Get Rating) last posted its earnings results on Monday, February 27th. The software maker reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.10. Workday had a negative net margin of 5.90% and a negative return on equity of 1.96%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the company posted ($0.20) EPS. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. As a group, equities analysts forecast that Workday, Inc. will post 0.08 EPS for the current fiscal year.

Workday announced that its Board of Directors has initiated a share buyback program on Tuesday, November 29th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the software maker to reacquire up to 1.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Workday

In related news, CEO Aneel Bhusri sold 2,787 shares of the firm’s stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $161.72, for a total value of $450,713.64. Following the transaction, the chief executive officer now directly owns 415,722 shares of the company’s stock, valued at approximately $67,230,561.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Workday news, insider Douglas A. Robinson sold 1,444 shares of the stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $161.73, for a total value of $233,538.12. Following the completion of the sale, the insider now owns 130,068 shares in the company, valued at approximately $21,035,897.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Aneel Bhusri sold 2,787 shares of the stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $161.72, for a total transaction of $450,713.64. Following the completion of the sale, the chief executive officer now owns 415,722 shares of the company’s stock, valued at approximately $67,230,561.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,377 shares of company stock valued at $1,686,103. 21.74% of the stock is owned by corporate insiders.

About Workday

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Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A.