Workday, Inc. (NASDAQ:WDAY) Stake Boosted by Duality Advisers LP

Duality Advisers LP grew its position in Workday, Inc. (NASDAQ:WDAY) by 117.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,372 shares of the software maker’s stock after buying an additional 3,446 shares during the quarter. Duality Advisers LP’s holdings in Workday were worth $1,738,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Workday during the 4th quarter worth approximately $1,491,149,000. Wellington Management Group LLP raised its position in Workday by 37.4% during the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after buying an additional 1,406,153 shares during the period. Vanguard Group Inc. raised its position in Workday by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock valued at $3,988,549,000 after buying an additional 437,215 shares during the period. Kodai Capital Management LP purchased a new stake in Workday in the 4th quarter worth about $85,994,000. Finally, International Assets Investment Management LLC lifted its stake in Workday by 22,896.2% in the fourth quarter. International Assets Investment Management LLC now owns 241,000 shares of the software maker’s stock valued at $66,530,000 after acquiring an additional 239,952 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Workday

In related news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total value of $669,267.24. Following the completion of the sale, the insider now directly owns 204,066 shares in the company, valued at $43,759,913.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total value of $669,267.24. Following the transaction, the insider now directly owns 204,066 shares in the company, valued at approximately $43,759,913.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $228.12, for a total value of $12,774,720.00. Following the completion of the sale, the insider now owns 618,000 shares of the company’s stock, valued at approximately $140,978,160. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 468,672 shares of company stock worth $103,096,914. Insiders own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

WDAY has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and issued a $350.00 target price on shares of Workday in a report on Friday, May 24th. Citigroup dropped their price target on Workday from $293.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Wells Fargo & Company lowered their price objective on shares of Workday from $325.00 to $275.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Piper Sandler cut their target price on shares of Workday from $280.00 to $262.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Guggenheim restated a “sell” rating and issued a $190.00 price target on shares of Workday in a research report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $281.44.

Workday Stock Performance

Workday stock opened at $230.02 on Friday. Workday, Inc. has a 12-month low of $202.01 and a 12-month high of $311.28. The stock has a 50-day simple moving average of $227.39 and a 200 day simple moving average of $260.12. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $60.96 billion, a price-to-earnings ratio of 41.45, a P/E/G ratio of 5.71 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the firm posted $0.16 earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. On average, research analysts anticipate that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

About Workday

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.