State of Tennessee Department of Treasury Makes New $26.21 Million Investment in Workday, Inc. (NASDAQ:WDAY)

State of Tennessee Department of Treasury purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 101,579 shares of the software maker’s stock, valued at approximately $26,210,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in Workday in the third quarter worth approximately $2,289,000. Anchor Investment Management LLC raised its stake in shares of Workday by 6.1% in the 3rd quarter. Anchor Investment Management LLC now owns 6,352 shares of the software maker’s stock worth $1,552,000 after buying an additional 368 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Workday in the 3rd quarter worth $4,893,000. Tidal Investments LLC lifted its holdings in shares of Workday by 43.8% in the third quarter. Tidal Investments LLC now owns 13,546 shares of the software maker’s stock valued at $3,311,000 after buying an additional 4,128 shares during the period. Finally, Synovus Financial Corp boosted its stake in Workday by 5.7% during the third quarter. Synovus Financial Corp now owns 19,590 shares of the software maker’s stock valued at $4,788,000 after buying an additional 1,051 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Workday news, CAO Mark S. Garfield sold 497 shares of the stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the transaction, the chief accounting officer now owns 34,385 shares in the company, valued at $7,789,921.75. This trade represents a 1.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder David A. Duffield sold 81,275 shares of the business’s stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $22,111,395.96. The trade was a 44.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 321,724 shares of company stock valued at $77,976,126. Insiders own 20.00% of the company’s stock.

Workday Stock Performance

WDAY stock opened at $214.10 on Tuesday. The company has a market capitalization of $56.95 billion, a price-to-earnings ratio of 35.51, a P/E/G ratio of 3.55 and a beta of 1.32. The firm has a 50 day moving average of $243.13 and a two-hundred day moving average of $252.17. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00.

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

Wall Street Analysts Forecast Growth

WDAY has been the subject of several recent research reports. Wells Fargo & Company increased their target price on shares of Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Oppenheimer boosted their target price on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Royal Bank of Canada increased their price target on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. KeyCorp boosted their price objective on Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Monday, March 24th. Ten 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. According to data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and a consensus price target of $296.25.

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.