California Public Employees Retirement System Has $186.03 Million Stake in Workday, Inc. (NASDAQ:WDAY)

California Public Employees Retirement System increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 19.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 720,971 shares of the software maker’s stock after purchasing an additional 116,161 shares during the period. California Public Employees Retirement System owned approximately 0.27% of Workday worth $186,032,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. CreativeOne Wealth LLC bought a new stake in shares of Workday in the third quarter valued at about $696,000. Captrust Financial Advisors boosted its holdings in Workday by 24.2% in the 3rd quarter. Captrust Financial Advisors now owns 12,853 shares of the software maker’s stock valued at $3,141,000 after purchasing an additional 2,506 shares during the period. Fred Alger Management LLC acquired a new position in shares of Workday during the 3rd quarter worth approximately $56,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Workday by 49.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 347,625 shares of the software maker’s stock worth $84,963,000 after purchasing an additional 115,696 shares during the period. Finally, Wasatch Advisors LP raised its position in shares of Workday by 69.4% in the third quarter. Wasatch Advisors LP now owns 11,687 shares of the software maker’s stock valued at $2,856,000 after buying an additional 4,787 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insider Transactions at Workday

In related news, Director Wayne A.I. Frederick sold 1,829 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the transaction, the director now owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.87, for a total transaction of $14,216,720.00. Following the completion of the sale, the insider now directly owns 116,000 shares of the company’s stock, valued at $29,448,920. This represents a 32.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 431,145 shares of company stock worth $108,631,438. 20.00% of the stock is currently owned by corporate insiders.

Workday Stock Performance

Shares of WDAY opened at $238.49 on Monday. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market cap of $63.44 billion, a PE ratio of 39.55, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The stock has a 50-day moving average price of $256.67 and a 200-day moving average price of $254.82.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. As a group, equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on WDAY shares. Daiwa America raised shares of Workday to a “strong-buy” rating in a research note on Tuesday, March 4th. Loop Capital boosted their price target on Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, February 19th. BNP Paribas raised shares of Workday to a “strong-buy” rating in a research report on Friday, February 14th. JMP Securities reissued a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research note on Thursday, February 6th. Finally, UBS Group upped their price objective on shares of Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus target price of $300.36.

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.