California Public Employees Retirement System Increases Stock Holdings in Workday, Inc. $WDAY

California Public Employees Retirement System increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 76.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 620,661 shares of the software maker’s stock after buying an additional 269,817 shares during the quarter. California Public Employees Retirement System owned about 0.23% of Workday worth $149,412,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Workday by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 21,799,056 shares of the software maker’s stock valued at $5,247,687,000 after buying an additional 684,872 shares during the period. State Street Corp lifted its holdings in shares of Workday by 3.3% during the 2nd quarter. State Street Corp now owns 9,600,516 shares of the software maker’s stock worth $2,304,124,000 after acquiring an additional 303,713 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Workday by 47.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock worth $1,406,463,000 after acquiring an additional 1,882,391 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Workday by 41.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,761,599 shares of the software maker’s stock valued at $905,530,000 after purchasing an additional 1,103,421 shares during the period. Finally, Parnassus Investments LLC grew its holdings in Workday by 13.1% in the third quarter. Parnassus Investments LLC now owns 3,217,205 shares of the software maker’s stock valued at $774,478,000 after purchasing an additional 371,561 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Trading Down 0.8%

NASDAQ:WDAY opened at $133.09 on Monday. The business’s 50-day moving average is $164.66 and its two-hundred day moving average is $205.82. The firm has a market capitalization of $34.20 billion, a PE ratio of 51.59, a price-to-earnings-growth ratio of 1.29 and a beta of 1.17. Workday, Inc. has a 12 month low of $117.76 and a 12 month high of $276.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.15. Workday had a return on equity of 13.37% and a net margin of 7.26%.The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the business earned $1.92 earnings per share. The company’s revenue was up 14.5% compared to the same quarter last year. Research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WDAY shares. Guggenheim cut their price target on shares of Workday from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Oppenheimer dropped their price objective on Workday from $200.00 to $165.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. JPMorgan Chase & Co. cut their target price on Workday from $270.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 24th. KeyCorp reduced their target price on Workday from $260.00 to $155.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Finally, Citigroup dropped their price target on Workday from $247.00 to $148.00 and set a “neutral” rating for the company in a research note on Thursday, February 26th. Twenty equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.00.

Insider Buying and Selling

In other Workday news, insider Gerrit S. Kazmaier sold 6,547 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $218.77, for a total value of $1,432,287.19. Following the completion of the transaction, the insider owned 111,353 shares in the company, valued at $24,360,695.81. This represents a 5.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $208.75, for a total transaction of $1,252,500.00. Following the completion of the sale, the chief financial officer directly owned 159,158 shares of the company’s stock, valued at $33,224,232.50. This trade represents a 3.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 610,796 shares of company stock valued at $107,013,566. Insiders own 20.00% of the company’s stock.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.