Armistice Capital LLC Buys 109,164 Shares of Workday, Inc. (NASDAQ:WDAY)

Armistice Capital LLC lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 264.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 150,476 shares of the software maker’s stock after purchasing an additional 109,164 shares during the period. Armistice Capital LLC owned approximately 0.06% of Workday worth $33,640,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Crewe Advisors LLC bought a new position in Workday in the 1st quarter valued at $27,000. Sound Income Strategies LLC boosted its holdings in Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after acquiring an additional 49 shares during the last quarter. SouthState Corp increased its position in Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after purchasing an additional 129 shares during the period. Pacific Center for Financial Services raised its holdings in Workday by 57.0% during the 1st quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock worth $43,000 after purchasing an additional 57 shares during the last quarter. Finally, Asset Dedication LLC bought a new position in shares of Workday in the 2nd quarter valued at about $36,000. 89.81% of the stock is owned by institutional investors.

Workday Stock Performance

Shares of WDAY opened at $243.37 on Thursday. The stock has a market capitalization of $64.49 billion, a price-to-earnings ratio of 43.85, a PEG ratio of 4.91 and a beta of 1.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The firm has a fifty day simple moving average of $237.96 and a 200 day simple moving average of $241.69. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter last year, the company earned $0.40 EPS. Workday’s revenue for the quarter was up 16.5% compared to the same quarter last year. Research analysts forecast that Workday, Inc. will post 2.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WDAY. Citigroup dropped their price target on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research note on Wednesday. Needham & Company LLC reduced their price target on Workday from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft upped their price objective on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, August 23rd. BMO Capital Markets restated an “outperform” rating and set a $300.00 target price on shares of Workday in a research report on Wednesday, September 18th. Finally, Evercore ISI reduced their price objective on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and a consensus target price of $287.04.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $245.36, for a total value of $13,740,160.00. Following the completion of the sale, the insider now owns 449,000 shares of the company’s stock, valued at approximately $110,166,640. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Workday news, major shareholder David A. Duffield sold 78,279 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $245.36, for a total value of $13,740,160.00. Following the completion of the sale, the insider now owns 449,000 shares in the company, valued at approximately $110,166,640. The disclosure for this sale can be found here. Insiders sold a total of 523,402 shares of company stock worth $123,604,344 over the last ninety days. 20.00% of the stock is currently owned by corporate insiders.

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.