32,513 Shares in Workday, Inc. $WDAY Acquired by 71 West Capital Partners

71 West Capital Partners acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 32,513 shares of the software maker’s stock, valued at approximately $6,983,000.

A number of other hedge funds have also made changes to their positions in WDAY. First Eagle Investment Management LLC purchased a new position in Workday in the third quarter valued at approximately $556,252,000. Norges Bank purchased a new position in Workday in the fourth quarter valued at approximately $448,804,000. Robeco Institutional Asset Management B.V. increased its stake in Workday by 18.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock valued at $122,804,000 after purchasing an additional 88,384 shares during the last quarter. Morningstar Investment Management LLC increased its stake in Workday by 127.2% in the fourth quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock valued at $5,808,000 after purchasing an additional 15,138 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd increased its stake in Workday by 40.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock valued at $11,943,000 after purchasing an additional 15,903 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Price Performance

WDAY stock opened at $129.60 on Tuesday. The company has a market capitalization of $32.01 billion, a P/E ratio of 40.50, a PEG ratio of 1.39 and a beta of 1.09. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $249.85. The business has a 50 day simple moving average of $128.05 and a 200-day simple moving average of $158.82. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.15. The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The company’s revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.23 earnings per share. As a group, equities analysts anticipate that Workday, Inc. will post 5.4 EPS for the current year.

Insiders Place Their Bets

In related news, insider Robert Enslin sold 5,373 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $129.41, for a total transaction of $695,319.93. Following the completion of the sale, the insider directly owned 165,414 shares of the company’s stock, valued at $21,406,225.74. This trade represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $128.22, for a total value of $769,320.00. Following the sale, the chief financial officer directly owned 217,930 shares of the company’s stock, valued at approximately $27,942,984.60. This represents a 2.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 882,314 shares of company stock valued at $116,525,216. 18.64% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on WDAY. Needham & Company LLC dropped their price target on shares of Workday from $300.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Citizens Jmp lowered shares of Workday from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 18th. Bank of America began coverage on shares of Workday in a research note on Wednesday, May 27th. They issued a “neutral” rating and a $140.00 price target on the stock. Royal Bank Of Canada reiterated an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. Finally, Summit Redstone set a $275.00 price target on shares of Workday in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $185.03.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.