Coalescence Partners Investment Management LP Boosts Stake in Workday, Inc. (NASDAQ:WDAY)

Coalescence Partners Investment Management LP raised its stake in Workday, Inc. (NASDAQ:WDAY) by 78.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,133 shares of the software maker’s stock after acquiring an additional 32,952 shares during the period. Workday makes up about 7.3% of Coalescence Partners Investment Management LP’s portfolio, making the stock its 7th biggest holding. Coalescence Partners Investment Management LP’s holdings in Workday were worth $19,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Roxbury Financial LLC acquired a new position in Workday during the fourth quarter valued at approximately $25,000. Capital Performance Advisors LLP acquired a new stake in shares of Workday in the 3rd quarter valued at $26,000. Crews Bank & Trust bought a new position in shares of Workday in the 4th quarter valued at $26,000. Avion Wealth raised its holdings in shares of Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its position in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $252.38 on Friday. The stock has a market cap of $67.13 billion, a PE ratio of 41.85, a PEG ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The company’s fifty day moving average is $258.39 and its 200 day moving average is $255.78. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data 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 return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Buying and Selling

In other Workday news, Director Wayne A.I. Frederick sold 1,829 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the sale, the director now directly owns 6,845 shares of the company’s stock, valued at $1,732,401.05. The trade was a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the transaction, the insider now directly owns 284,000 shares of the company’s stock, valued at $78,188,040. The trade was a 16.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 435,829 shares of company stock worth $113,033,319. 20.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

WDAY has been the topic of a number of recent analyst reports. UBS Group lifted their target price on Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Guggenheim reiterated a “neutral” rating on shares of Workday in a research report on Wednesday, February 26th. BNP Paribas raised shares of Workday to a “strong-buy” rating in a research note on Friday, February 14th. BMO Capital Markets boosted their target price on shares of Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Finally, Bank of America cut their price objective on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $302.14.

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.