Workday, Inc. (NASDAQ:WDAY) is TenCore Partners LP’s 5th Largest Position

TenCore Partners LP decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 9.1% in the fourth quarter, HoldingsChannel reports. The firm owned 63,301 shares of the software maker’s stock after selling 6,350 shares during the quarter. Workday makes up 8.1% of TenCore Partners LP’s investment portfolio, making the stock its 5th biggest position. TenCore Partners LP’s holdings in Workday were worth $16,334,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WDAY. Vanguard Group Inc. raised its stake in Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after buying an additional 4,517,272 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of Workday during the 4th quarter worth approximately $658,735,000. Norges Bank bought a new position in shares of Workday in the 4th quarter worth approximately $645,710,000. Parnassus Investments LLC lifted its stake in shares of Workday by 562.2% in the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after purchasing an additional 2,078,097 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock valued at $1,193,105,000 after purchasing an additional 1,772,223 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WDAY has been the subject of a number of research reports. Westpark Capital started coverage on Workday in a report on Tuesday, May 6th. They issued a “buy” rating and a $315.00 price objective for the company. BNP Paribas raised shares of Workday to a “strong-buy” rating in a research report on Friday, February 14th. Canaccord Genuity Group lifted their price target on shares of Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $300.00 price objective on shares of Workday in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus price target of $293.62.

Insider Buying and Selling

In related news, insider Sayan Chakraborty sold 6,056 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the transaction, the insider now directly owns 111,324 shares in the company, valued at approximately $29,556,522. The trade was a 5.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 66,455 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,729,781.44. This represents a 39.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 321,724 shares of company stock valued at $77,976,126. 19.31% of the stock is owned by insiders.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $273.05 on Friday. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $240.57 and its 200-day moving average price is $253.40. The company has a market cap of $72.63 billion, a PE ratio of 45.28, a PEG ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY) last released its quarterly earnings results 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 net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. As a group, 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.