Workday, Inc. $WDAY Position Boosted by California State Teachers Retirement System

California State Teachers Retirement System increased its position in Workday, Inc. (NASDAQ:WDAY) by 11,770.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,907,426 shares of the software maker’s stock after purchasing an additional 36,596,516 shares during the period. California State Teachers Retirement System owned 0.15% of Workday worth $4,518,207,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Auto Owners Insurance Co grew its position in shares of Workday by 25,412.8% in the 4th quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock worth $2,197,332,000 after acquiring an additional 10,190,516 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Workday by 101.4% during the 4th quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker’s stock valued at $1,077,537,000 after acquiring an additional 2,525,821 shares in the last quarter. Norges Bank bought a new position in Workday during the fourth quarter worth $448,804,000. Hotchkis & Wiley Capital Management LLC lifted its stake in Workday by 47.5% during 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 purchasing an additional 1,882,391 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted 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 worth $905,530,000 after purchasing an additional 1,103,421 shares during the period. 89.81% of the stock is owned by institutional investors.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 90,615 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $198.14, for a total value of $17,954,456.10. Following the sale, the insider owned 105,049 shares in the company, valued at approximately $20,814,408.86. This trade represents a 46.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total value of $862,200.00. Following the sale, the chief financial officer directly owned 288,460 shares in the company, valued at approximately $41,451,702. This trade represents a 2.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 845,596 shares of company stock worth $119,870,637 over the last 90 days. Corporate insiders own 18.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Workday from $115.00 to $160.00 and gave the company a “hold” rating in a research note on Friday, August 28th. Weiss Ratings upgraded shares of Workday from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 13th. The Goldman Sachs Group lifted their price target on shares of Workday from $151.00 to $164.00 and gave the company a “neutral” rating in a report on Monday, August 31st. CLSA initiated coverage on shares of Workday in a research report on Monday, July 20th. They set an “underperform” rating and a $92.00 price objective for the company. Finally, Robert W. Baird increased their price objective on shares of Workday from $190.00 to $215.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Twenty research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Workday has an average rating of “Hold” and a consensus target price of $206.34.

Workday Price Performance

Shares of NASDAQ WDAY opened at $186.05 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $44.84 billion, a PE ratio of 37.74, a P/E/G ratio of 1.88 and a beta of 1.08. Workday, Inc. has a 1-year low of $110.36 and a 1-year high of $249.85. The business’s fifty day moving average price is $169.85 and its two-hundred day moving average price is $143.60.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.14. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.64 billion. Workday had a net margin of 12.32% and a return on equity of 20.95%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.21 earnings per share. On average, research analysts expect that Workday, Inc. will post 5.3 EPS for the current year.

Workday Profile

Workday, Inc develops cloud-based enterprise software designed to help organizations manage finance, human resources and related business operations. Its platform provides tools for financial management, accounting, procurement, expenses, payroll, workforce management, recruiting, talent management, employee experience and enterprise planning.

The company also offers analytics, reporting and artificial intelligence capabilities that support budgeting, forecasting, workforce planning and business decision-making.