Employees Retirement System of Texas Buys 1,569 Shares of Workday, Inc. $WDAY

Employees Retirement System of Texas grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 12.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,206 shares of the software maker’s stock after buying an additional 1,569 shares during the quarter. Employees Retirement System of Texas’ holdings in Workday were worth $3,409,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WDAY. Nuveen LLC purchased a new stake in Workday during the first quarter valued at about $456,341,000. T. Rowe Price Investment Management Inc. increased its position in shares of Workday by 47.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker’s stock valued at $879,147,000 after purchasing an additional 1,211,659 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Workday by 35.6% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 3,479,105 shares of the software maker’s stock valued at $812,475,000 after buying an additional 913,613 shares in the last quarter. Generation Investment Management LLP lifted its position in Workday by 36.6% in the 1st quarter. Generation Investment Management LLP now owns 2,903,767 shares of the software maker’s stock worth $678,117,000 after buying an additional 778,301 shares during the last quarter. Finally, Parnassus Investments LLC lifted its position in Workday by 22.4% in the 1st quarter. Parnassus Investments LLC now owns 2,996,429 shares of the software maker’s stock worth $699,756,000 after buying an additional 548,694 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $237.52, for a total transaction of $1,484,500.00. Following the transaction, the chief executive officer directly owned 20,222 shares of the company’s stock, valued at approximately $4,803,129.44. The trade was a 23.61% 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, insider Richard Harry Sauer sold 2,320 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $235.87, for a total transaction of $547,218.40. Following the completion of the sale, the insider directly owned 90,077 shares of the company’s stock, valued at approximately $21,246,461.99. This represents a 2.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 264,933 shares of company stock valued at $61,475,760. 19.31% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on WDAY. Wells Fargo & Company decreased their price target on shares of Workday from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Workday in a research report on Wednesday. DA Davidson lowered their price target on shares of Workday from $260.00 to $250.00 and set a “neutral” rating for the company in a research note on Wednesday. Stifel Nicolaus reduced their price objective on Workday from $255.00 to $235.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, Cowen reissued a “buy” rating on shares of Workday in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $282.70.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $215.34 on Thursday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average price of $233.95 and a 200-day moving average price of $236.47. The company has a market cap of $57.50 billion, a price-to-earnings ratio of 90.48, a price-to-earnings-growth ratio of 2.90 and a beta of 1.11. Workday, Inc. has a 12 month low of $205.33 and a 12 month high of $294.00.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.15. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.42 billion. Workday had a return on equity of 10.45% and a net margin of 6.95%.Workday’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.89 EPS. As a group, equities analysts anticipate that Workday, Inc. will post 2.63 EPS 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.