Teachers Retirement System of The State of Kentucky Makes New $11.78 Million Investment in Workday, Inc. (NASDAQ:WDAY)

Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY – Get Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 77,403 shares of the software maker’s stock, valued at approximately $11,782,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. RB Capital Management LLC boosted its position in Workday by 2.8% in the first quarter. RB Capital Management LLC now owns 2,763 shares of the software maker’s stock worth $662,000 after purchasing an additional 76 shares during the last quarter. Private Advisor Group LLC increased its stake in Workday by 11.8% in the 1st quarter. Private Advisor Group LLC now owns 2,511 shares of the software maker’s stock worth $601,000 after acquiring an additional 265 shares during the last quarter. MetLife Investment Management LLC bought a new position in Workday in the 1st quarter worth about $2,974,000. Yousif Capital Management LLC increased its position in shares of Workday by 2.7% during the 1st quarter. Yousif Capital Management LLC now owns 2,813 shares of the software maker’s stock valued at $674,000 after purchasing an additional 74 shares during the last quarter. Finally, Raymond James Trust N.A. boosted its holdings in Workday by 10.3% during the 1st quarter. Raymond James Trust N.A. now owns 3,391 shares of the software maker’s stock valued at $812,000 after acquiring an additional 316 shares during the period. Institutional investors own 66.98% of the company’s stock.

Workday Price Performance

Shares of Workday stock opened at $191.72 on Friday. The stock’s 50-day simple moving average is $180.34 and its 200-day simple moving average is $163.94. Workday, Inc. has a 52 week low of $128.72 and a 52 week high of $248.92. The company has a market capitalization of $49.66 billion, a price-to-earnings ratio of -133.14, a PEG ratio of 87.87 and a beta of 1.26. 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 (NASDAQ:WDAY – Get Rating) last announced its quarterly earnings data on Monday, February 27th. The software maker reported $0.99 EPS for the quarter, beating the consensus estimate of $0.89 by $0.10. Workday had a negative return on equity of 1.96% and a negative net margin of 5.90%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the business earned ($0.20) earnings per share. The business’s revenue was up 19.6% on a year-over-year basis. As a group, analysts expect that Workday, Inc. will post 0.08 earnings per share for the current fiscal year.

Workday announced that its Board of Directors has authorized a stock buyback program on Tuesday, November 29th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the software maker to purchase up to 1.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, CEO Aneel Bhusri sold 2,787 shares of the business’s stock in a transaction dated Thursday, January 5th. The stock was 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 in the company, valued at $67,230,561.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Barbara A. Larson sold 1,491 shares of Workday stock in a transaction dated Thursday, January 5th. The stock was sold at an average price of $161.73, for a total value of $241,139.43. Following the sale, the chief financial officer now directly owns 75,097 shares of the company’s stock, valued at $12,145,437.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Aneel Bhusri sold 2,787 shares of Workday stock in a transaction dated Thursday, January 5th. The stock was sold at an average price of $161.72, for a total value of $450,713.64. Following the completion of the sale, the chief executive officer now directly owns 415,722 shares in the company, valued at $67,230,561.84. The disclosure for this sale can be found here. Insiders have sold 10,377 shares of company stock worth $1,686,103 over the last ninety days. Corporate insiders own 21.74% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of research analyst reports. Stifel Nicolaus raised their target price on Workday from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. DA Davidson raised their target price on Workday from $205.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. Citigroup raised their target price on Workday from $185.00 to $203.00 and gave the company a “neutral” rating in a research note on Tuesday, February 28th. Piper Sandler raised their price objective on Workday from $184.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, February 28th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $195.00 price objective on shares of Workday in a research report on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $213.72.

Workday Profile

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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.