Teachers Retirement System of The State of Kentucky increased its stake in Workday, Inc. (NASDAQ:WDAY – Free Report) by 2.2% in the first quarter, HoldingsChannel.com reports. The firm owned 88,943 shares of the software maker’s stock after acquiring an additional 1,954 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Workday were worth $20,771,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Cornerstone Planning Group LLC boosted its stake in shares of Workday by 76.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker’s stock worth $28,000 after purchasing an additional 54 shares during the last quarter. Farmers & Merchants Investments Inc. purchased a new stake in Workday during the first quarter worth approximately $32,000. Financial Management Professionals Inc. lifted its position in shares of 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 purchasing an additional 54 shares in the last quarter. Pinnacle Bancorp Inc. acquired a new stake in Workday in the first quarter valued at $40,000. Finally, BankPlus Trust Department acquired a new stake in Workday in the first quarter valued at $40,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.
Workday Stock Up 0.9%
Shares of NASDAQ WDAY opened at $233.06 on Monday. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The stock has a market cap of $62.23 billion, a PE ratio of 128.76, a PEG ratio of 3.52 and a beta of 1.21. 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 has a fifty day moving average of $245.83 and a two-hundred day moving average of $247.13.
Insider Buying and Selling at Workday
In other news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the sale, the director directly owned 67,500 shares of the company’s stock, valued at approximately $16,767,675. This represents a 10.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the 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 sale, the chief financial officer directly 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 disclosure for this sale can be found here. Insiders sold 329,005 shares of company stock worth $79,203,523 in the last three months. 20.00% of the stock is owned by insiders.
Analysts Set New Price Targets
Several analysts have weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Workday from $360.00 to $325.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. JMP Securities reissued a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Friday, May 23rd. 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. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price objective on shares of Workday in a research report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. dropped their price objective on Workday from $310.00 to $295.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $296.88.
Get Our Latest Research Report on WDAY
Workday 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.
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