Lakehouse Capital Pty Ltd Takes $10.51 Million Position in Workday, Inc. $WDAY

Lakehouse Capital Pty Ltd acquired a new stake in Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, Holdings Channel reports. The firm acquired 48,940 shares of the software maker’s stock, valued at approximately $10,511,000. Workday comprises 7.6% of Lakehouse Capital Pty Ltd’s investment portfolio, making the stock its 8th biggest position.

Other hedge funds also recently modified their holdings of the company. Rakuten Securities Inc. acquired a new position in shares of Workday in the second quarter valued at $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Workday in the third quarter valued at $26,000. JPL Wealth Management LLC acquired a new position in shares of Workday in the third quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Workday in the fourth quarter valued at $36,000. Finally, eCIO Inc. acquired a new position in shares of Workday in the fourth quarter valued at $36,000. 89.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on WDAY. Raymond James Financial restated a “market perform” rating on shares of Workday in a research note on Monday, February 9th. Morgan Stanley lowered their price target on Workday from $280.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on Workday from $265.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Piper Sandler decreased their target price on Workday from $200.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Finally, BTIG Research decreased their target price on Workday from $230.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Nineteen investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $199.71.

Workday Trading Down 0.8%

NASDAQ:WDAY opened at $123.83 on Friday. Workday, Inc. has a 1-year low of $110.36 and a 1-year high of $276.00. The business’s 50-day moving average price is $134.19 and its two-hundred day moving average price is $187.83. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $31.82 billion, a price-to-earnings ratio of 48.00, a PEG ratio of 1.21 and a beta of 1.14.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.15. Workday had a return on equity of 13.37% and a net margin of 7.26%.The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the firm posted $1.92 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. On average, equities analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity at Workday

In other news, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $128.22, for a total transaction of $769,320.00. Following the sale, the chief financial officer owned 217,930 shares of the company’s stock, valued at $27,942,984.60. This trade represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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, insider Robert Enslin sold 5,373 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $129.41, for a total value of $695,319.93. Following the sale, the insider directly owned 165,414 shares in the company, valued at approximately $21,406,225.74. This represents a 3.15% decrease in their position. 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. Insiders have sold a total of 989,814 shares of company stock valued at $131,576,291 over the last 90 days. Insiders own 19.31% of the company’s stock.

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.