Texas Permanent School Fund Corp Sells 5,499 Shares of Workday, Inc. $WDAY

Texas Permanent School Fund Corp cut its holdings in Workday, Inc. (NASDAQ:WDAY) by 23.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,533 shares of the software maker’s stock after selling 5,499 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Workday were worth $4,208,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of WDAY. Rakuten Securities Inc. acquired a new position in shares of Workday in the second quarter valued at approximately $25,000. Berbice Capital Management LLC raised its holdings in shares of Workday by 136.4% during the second quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock worth $31,000 after acquiring an additional 75 shares during the period. Golden State Wealth Management LLC lifted its position in Workday by 2,216.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock valued at $33,000 after acquiring an additional 133 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in Workday in the 2nd quarter worth $41,000. Finally, Physician Wealth Advisors Inc. bought a new position in Workday during the 2nd quarter worth about $42,000. 89.81% of the stock is owned by institutional investors.

Insider Activity at Workday

In other news, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $232.62, for a total value of $1,395,720.00. Following the sale, the chief financial officer directly owned 168,468 shares of the company’s stock, valued at approximately $39,189,026.16. This represents a 3.44% 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 Workday stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $235.87, for a total value of $547,218.40. Following the transaction, the insider owned 90,077 shares of the company’s stock, valued at $21,246,461.99. The trade was a 2.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 332,508 shares of company stock worth $75,305,836 over the last ninety days. Company insiders own 19.31% of the company’s stock.

Workday Trading Up 1.0%

Shares of Workday stock opened at $218.08 on Friday. Workday, Inc. has a 12-month low of $205.33 and a 12-month high of $283.68. The stock has a market cap of $57.36 billion, a P/E ratio of 91.63, a P/E/G ratio of 2.45 and a beta of 1.15. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $227.36 and its 200-day moving average is $232.05.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same period last year, the business earned $1.89 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. Equities research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. KeyCorp cut their price target on Workday from $285.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Loop Capital set a $280.00 target price on Workday in a research note on Wednesday, December 10th. Guggenheim reaffirmed a “buy” rating and set a $285.00 price target on shares of Workday in a research report on Wednesday, November 26th. BTIG Research initiated coverage on shares of Workday in a report on Tuesday. They issued a “buy” rating and a $285.00 price objective on the stock. Finally, Morgan Stanley boosted their price objective on shares of Workday from $255.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $282.22.

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.