Workday, Inc. $WDAY Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 310,910 shares of the software maker’s stock after selling 8,992 shares during the period. California State Teachers Retirement System owned 0.12% of Workday worth $40,393,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its stake in Workday by 395.4% during the first quarter. Empowered Funds LLC now owns 107,880 shares of the software maker’s stock valued at $14,016,000 after purchasing an additional 86,105 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Workday by 270.9% in the 1st quarter. Quantinno Capital Management LP now owns 372,618 shares of the software maker’s stock worth $48,411,000 after buying an additional 272,160 shares during the last quarter. SummitTX Capital L.P. acquired a new position in shares of Workday in the 1st quarter valued at about $1,552,000. Ardmore Road Asset Management LP acquired a new position in shares of Workday in the 1st quarter valued at about $15,370,000. Finally, Weiss Asset Management LP bought a new stake in shares of Workday during the 1st quarter valued at about $1,388,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Workday

In related news, insider Robert Enslin sold 5,374 shares of the company’s stock in a transaction on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total transaction of $724,952.60. Following the completion of the transaction, the insider directly owned 239,469 shares in the company, valued at $32,304,368.10. This represents a 2.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David A. Duffield sold 107,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $122.04, for a total value of $13,119,300.00. Following the completion of the sale, the insider owned 105,049 shares of the company’s stock, valued at $12,820,179.96. This represents a 50.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 875,020 shares of company stock worth $113,938,503 over the last three months. Corporate insiders own 18.64% of the company’s stock.

Workday Stock Up 1.4%

Shares of NASDAQ:WDAY opened at $160.34 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $39.60 billion, a PE ratio of 50.11, a price-to-earnings-growth ratio of 1.68 and a beta of 1.11. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85. The firm has a 50 day simple moving average of $136.31 and a 200 day simple moving average of $140.07.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the company earned $2.23 EPS. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. As a group, research analysts expect that Workday, Inc. will post 5.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Sanford C. Bernstein restated an “outperform” rating and set a $216.00 price objective on shares of Workday in a research note on Friday, May 22nd. The Goldman Sachs Group dropped their target price on Workday from $206.00 to $151.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 26th. Bank of America initiated coverage on shares of Workday in a report on Wednesday, May 27th. They set a “neutral” rating and a $140.00 price target for the company. Summit Redstone set a $275.00 price target on shares of Workday in a research report on Wednesday, May 27th. Finally, Barclays raised shares of Workday from an “overweight” rating to a “buy” rating in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $179.80.

Workday Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.