Teacher Retirement System of Texas Has $3.24 Million Holdings in Workday, Inc. (NASDAQ:WDAY)

Teacher Retirement System of Texas trimmed its holdings in Workday, Inc. (NASDAQ:WDAY) by 88.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,563 shares of the software maker’s stock after selling 100,440 shares during the period. Teacher Retirement System of Texas’ holdings in Workday were worth $3,242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Roxbury Financial LLC acquired a new position in shares of Workday in the 4th quarter valued at approximately $25,000. Crews Bank & Trust bought a new position in Workday in the fourth quarter valued at approximately $26,000. Avion Wealth lifted its stake in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after buying an additional 86 shares in the last quarter. TCTC Holdings LLC acquired a new position in shares of Workday in the fourth quarter valued at approximately $35,000. Finally, True Wealth Design LLC increased its position in shares of Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after acquiring an additional 143 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Price Performance

NASDAQ:WDAY opened at $252.83 on Wednesday. The company has a market cap of $67.25 billion, a P/E ratio of 41.93, a P/E/G ratio of 3.55 and a beta of 1.38. The firm’s fifty day moving average price is $256.97 and its two-hundred day moving average price is $255.03. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. 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 released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Equities analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $261.75, for a total transaction of $14,658,000.00. Following the sale, the insider now owns 172,000 shares of the company’s stock, valued at $45,021,000. This represents a 24.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the completion of the transaction, the director now directly owns 6,845 shares of the company’s stock, valued at $1,732,401.05. This represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 417,001 shares of company stock worth $105,735,200 in the last ninety days. 20.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

WDAY has been the topic of several research reports. The Goldman Sachs Group boosted their price objective on shares of Workday from $310.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Mizuho upped their price objective on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Loop Capital increased their price objective on Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th. Bank of America cut their target price on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and raised their price target for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and an average target price of $300.36.

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.