LTS One Management LP Purchases Shares of 56,375 Workday, Inc. (NASDAQ:WDAY)

LTS One Management LP acquired a new position in Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 56,375 shares of the software maker’s stock, valued at approximately $14,546,000. Workday makes up approximately 4.1% of LTS One Management LP’s investment portfolio, making the stock its 14th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Simplicity Wealth LLC raised its holdings in Workday by 3.0% during the fourth quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock valued at $330,000 after acquiring an additional 37 shares during the period. Marcum Wealth LLC raised its stake in Workday by 4.4% during the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after purchasing an additional 41 shares during the period. Custom Index Systems LLC lifted its holdings in Workday by 3.0% in the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after purchasing an additional 41 shares in the last quarter. AllSquare Wealth Management LLC boosted its stake in Workday by 19.4% in the 4th quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock worth $65,000 after purchasing an additional 41 shares during the period. Finally, CreativeOne Wealth LLC grew its holdings in Workday by 1.5% during the 4th quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker’s stock valued at $745,000 after buying an additional 43 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday Price Performance

Shares of WDAY opened at $226.51 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company has a 50 day moving average price of $248.47 and a 200-day moving average price of $252.86. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The stock has a market capitalization of $60.25 billion, a PE ratio of 37.56, a PEG ratio of 3.55 and a beta of 1.32.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share 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 company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Equities analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

WDAY has been the subject of a number of research reports. Scotiabank dropped their target price on shares of Workday from $355.00 to $305.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Daiwa America upgraded Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. boosted their target price on Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Morgan Stanley cut Workday from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. Finally, Redburn Atlantic started coverage on Workday in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Workday has an average rating of “Moderate Buy” and an average target price of $300.18.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 81,275 shares of the company’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $22,111,395.96. This represents a 44.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the transaction, the insider now directly owns 111,324 shares of the company’s stock, valued at $29,556,522. The trade was a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 321,227 shares of company stock valued at $77,863,531. 20.00% of the stock is currently owned by insiders.

Workday Company 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.