Fourpath Capital Management LLC Increases Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Fourpath Capital Management LLC boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 16.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 799 shares of the software maker’s stock after buying an additional 113 shares during the period. Fourpath Capital Management LLC’s holdings in Workday were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WDAY. Janus Henderson Group PLC increased its position in shares of Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after acquiring an additional 480,459 shares during the period. State Street Corp increased its holdings in shares of Workday by 1.4% in the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after purchasing an additional 67,380 shares during the period. Geode Capital Management LLC raised its stake in shares of Workday by 2.7% in the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after purchasing an additional 76,618 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Workday by 0.6% during the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after purchasing an additional 14,159 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Workday by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock valued at $482,133,000 after buying an additional 75,747 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on WDAY shares. Needham & Company LLC restated a “buy” rating and set a $300.00 price objective on shares of Workday in a research note on Monday, November 25th. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Piper Sandler reaffirmed a “neutral” rating and set a $270.00 price target (down from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Wells Fargo & Company lifted their price objective on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Guggenheim upgraded Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $292.25.

Insider Buying and Selling at Workday

In related news, insider Sayan Chakraborty sold 5,498 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the sale, the insider now owns 121,100 shares of the company’s stock, valued at approximately $30,369,458. This represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 70,003 shares of Workday stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $25,872,846.40. This trade represents a 40.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock worth $113,142,592 in the last three months. 20.00% of the stock is owned by corporate insiders.

Workday Stock Performance

NASDAQ:WDAY opened at $259.73 on Wednesday. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The company has a market cap of $69.09 billion, a P/E ratio of 43.07, a P/E/G ratio of 4.73 and a beta of 1.35. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $260.91 and its 200-day moving average price is $249.30.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the firm posted $0.47 EPS. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, sell-side analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.