New York State Teachers Retirement System Has $36.80 Million Holdings in Workday, Inc. (NASDAQ:WDAY)

New York State Teachers Retirement System grew its holdings in Workday, Inc. (NASDAQ:WDAY) by 3,375.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 142,613 shares of the software maker’s stock after purchasing an additional 138,510 shares during the period. New York State Teachers Retirement System owned about 0.05% of Workday worth $36,798,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WDAY. Two Sigma Advisers LP raised its holdings in shares of Workday by 1,094.2% in the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after purchasing an additional 562,400 shares during the last quarter. KBC Group NV raised its holdings in shares of Workday by 340.3% in the fourth quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock valued at $169,199,000 after purchasing an additional 506,812 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after buying an additional 480,459 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Workday during the third quarter worth $78,003,000. Finally, Lindbrook Capital LLC increased its holdings in Workday by 17,001.6% during the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock worth $703,000 after buying an additional 284,266 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Guggenheim upgraded shares of Workday from a “sell” rating to a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company lifted their price objective on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Bank of America reduced their price objective on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. StockNews.com cut shares of Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $292.43.

Insider Activity at Workday

In related news, insider Sayan Chakraborty sold 5,498 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the sale, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. This represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the transaction, the insider now owns 60,000 shares in the company, valued at $14,785,200. The trade was a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock worth $113,142,592 over the last ninety days. Insiders own 20.00% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock opened at $258.05 on Friday. The business’s 50 day simple moving average is $262.30 and its 200 day simple moving average is $251.24. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The stock has a market capitalization of $68.64 billion, a PE ratio of 42.79, a PEG ratio of 3.78 and a beta of 1.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the business posted $0.47 earnings per share. The firm’s revenue was up 15.8% on a year-over-year basis. As a group, research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

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.