Teachers Retirement System of The State of Kentucky Purchases 2,816 Shares of Workday Inc (NASDAQ:WDAY)

Teachers Retirement System of The State of Kentucky raised its position in shares of Workday Inc (NASDAQ:WDAY) by 3.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,443 shares of the software maker’s stock after purchasing an additional 2,816 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Workday were worth $15,259,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Flagship Harbor Advisors LLC grew its stake in Workday by 86.3% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 190 shares of the software maker’s stock worth $35,000 after buying an additional 88 shares during the last quarter. Capital Analysts LLC purchased a new stake in Workday during the 1st quarter worth approximately $37,000. Liberty One Investment Management LLC purchased a new stake in Workday during the 2nd quarter worth approximately $43,000. Pinz Capital Management LP purchased a new stake in shares of Workday in the first quarter valued at approximately $52,000. Finally, IFP Advisors Inc grew its position in shares of Workday by 58.2% in the second quarter. IFP Advisors Inc now owns 291 shares of the software maker’s stock valued at $54,000 after purchasing an additional 107 shares in the last quarter. Institutional investors and hedge funds own 67.98% of the company’s stock.

In other news, Director Michael M. Mcnamara sold 150,000 shares of Workday stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $241.94, for a total transaction of $36,291,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO James Bozzini sold 5,208 shares of Workday stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $181.44, for a total transaction of $944,939.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 363,613 shares of company stock valued at $78,926,696. 26.51% of the stock is owned by insiders.

NASDAQ:WDAY traded down $2.01 during mid-day trading on Wednesday, reaching $205.62. The stock had a trading volume of 1,720,075 shares, compared to its average volume of 2,281,553. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market capitalization of $49.21 billion, a price-to-earnings ratio of -109.48 and a beta of 1.56. Workday Inc has a twelve month low of $107.75 and a twelve month high of $248.75. The business has a 50 day simple moving average of $198.84 and a 200 day simple moving average of $171.62.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 27th. The software maker reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.18. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Workday had a negative net margin of 10.77% and a negative return on equity of 10.56%. The firm’s revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. As a group, sell-side analysts expect that Workday Inc will post -0.72 earnings per share for the current year.

Several brokerages recently weighed in on WDAY. Cowen increased their price objective on Workday from $190.00 to $250.00 and gave the stock a “market perform” rating in a research report on Friday, August 28th. Jefferies Financial Group increased their price objective on Workday from $195.00 to $250.00 and gave the company a “hold” rating in a research note on Friday, August 28th. Loop Capital increased their price objective on Workday from $140.00 to $170.00 and gave the company a “sell” rating in a research note on Friday, August 28th. Morgan Stanley increased their price objective on Workday from $215.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, August 28th. Finally, BidaskClub cut Workday from a “hold” rating to a “sell” rating in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Workday has a consensus rating of “Hold” and an average target price of $231.90.

Workday Profile

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.

Further Reading: Sell-Side Analysts

Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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