Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys New Position in Workday, Inc. (NASDAQ:WDAY)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 45,290 shares of the software maker’s stock, valued at approximately $11,686,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crews Bank & Trust bought a new position in Workday in the fourth quarter worth $26,000. Roxbury Financial LLC bought a new position in Workday in the fourth quarter worth $25,000. Avion Wealth raised its holdings in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. TCTC Holdings LLC bought a new position in Workday in the fourth quarter worth $35,000. Finally, True Wealth Design LLC raised its holdings in Workday by 4,766.7% in the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after purchasing an additional 143 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on WDAY shares. Mizuho increased their price objective on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. KeyCorp raised their price target on Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Barclays reduced their price target on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Stifel Nicolaus raised their price target on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a report on Wednesday, February 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $300.00 price target on shares of Workday in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $300.36.

Workday Stock Down 0.4 %

NASDAQ WDAY opened at $249.49 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The stock’s 50-day moving average price is $256.76 and its 200-day moving average price is $255.15. The company has a market capitalization of $66.36 billion, a P/E ratio of 41.37, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. On average, equities research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 71,672 shares of Workday stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $248.58, for a total value of $17,816,225.76. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at approximately $25,602,994.26. The trade was a 41.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $241.33, for a total value of $1,809,975.00. Following the completion of the transaction, the director now owns 75,000 shares of the company’s stock, valued at approximately $18,099,750. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 473,001 shares of company stock valued at $120,614,400 in the last quarter. 20.00% of the stock is currently owned by insiders.

About Workday

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.