Teachers Retirement System of The State of Kentucky Sells 2,436 Shares of Workday, Inc. (NASDAQ:WDAY)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,818 shares of the software maker’s stock after selling 2,436 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Workday were worth $17,621,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Crewe Advisors LLC purchased a new position in Workday in the 1st quarter worth approximately $27,000. Sound Income Strategies LLC grew its position in Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after acquiring an additional 49 shares in the last quarter. SouthState Corp increased its stake in Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after acquiring an additional 129 shares during the last quarter. Goodman Advisory Group LLC purchased a new stake in Workday during the second quarter valued at about $35,000. Finally, Asset Dedication LLC bought a new stake in Workday during the second quarter worth about $36,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Trading Down 1.5 %

NASDAQ:WDAY opened at $240.66 on Wednesday. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $239.42 and a 200-day moving average price of $240.77. The stock has a market cap of $63.77 billion, a price-to-earnings ratio of 43.36, a P/E/G ratio of 4.85 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the firm posted $0.40 EPS. The business’s revenue was up 16.5% on a year-over-year basis. Equities analysts predict that Workday, Inc. will post 2.39 EPS for the current year.

Wall Street Analysts Forecast Growth

WDAY has been the topic of several recent research reports. Wells Fargo & Company increased their price objective on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Evercore ISI lowered their price objective on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research note on Wednesday, September 18th. Barclays lifted their target price on shares of Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Guggenheim restated a “sell” rating and set a $190.00 price target on shares of Workday in a research report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $287.04.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $228.12, for a total transaction of $12,774,720.00. Following the completion of the transaction, the insider now owns 618,000 shares of the company’s stock, valued at $140,978,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $228.12, for a total transaction of $12,774,720.00. Following the completion of the transaction, the insider now directly owns 618,000 shares in the company, valued at $140,978,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $260.32, for a total value of $1,952,400.00. Following the completion of the sale, the director now directly owns 97,500 shares in the company, valued at $25,381,200. The disclosure for this sale can be found here. Insiders have sold a total of 389,123 shares of company stock valued at $93,545,659 over the last ninety days. Company insiders own 20.00% of the company’s stock.

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.