Inceptionr LLC Purchases New Stake in Workday, Inc. $WDAY

Inceptionr LLC acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,824 shares of the software maker’s stock, valued at approximately $1,158,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Verdence Capital Advisors LLC raised its holdings in shares of Workday by 1.0% during the second quarter. Verdence Capital Advisors LLC now owns 4,381 shares of the software maker’s stock worth $1,051,000 after purchasing an additional 45 shares during the period. Bristlecone Advisors LLC grew its position in shares of Workday by 1.6% during the 1st quarter. Bristlecone Advisors LLC now owns 2,968 shares of the software maker’s stock valued at $693,000 after buying an additional 47 shares during the last quarter. Perennial Investment Advisors LLC grew its position in shares of Workday by 2.8% during the 2nd quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock valued at $418,000 after buying an additional 48 shares during the last quarter. Johnson Investment Counsel Inc. raised its stake in Workday by 2.3% during the second quarter. Johnson Investment Counsel Inc. now owns 2,201 shares of the software maker’s stock worth $528,000 after acquiring an additional 49 shares during the period. Finally, Kingsview Wealth Management LLC lifted its holdings in Workday by 1.1% in the second quarter. Kingsview Wealth Management LLC now owns 4,544 shares of the software maker’s stock worth $1,091,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WDAY shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Workday in a report on Wednesday, October 8th. Raymond James Financial assumed coverage on Workday in a research note on Friday, November 21st. They set a “market perform” rating for the company. Citigroup reduced their price target on shares of Workday from $261.00 to $247.00 and set a “neutral” rating for the company in a report on Wednesday. Wells Fargo & Company lowered their price target on shares of Workday from $300.00 to $290.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Piper Sandler upgraded shares of Workday from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $220.00 to $235.00 in a research report on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and a consensus price target of $282.70.

Insider Activity

In other Workday news, insider Richard Harry Sauer sold 2,320 shares of the business’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $235.87, for a total value of $547,218.40. Following the sale, the insider directly owned 90,077 shares in the company, valued at approximately $21,246,461.99. The trade was a 2.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $232.62, for a total transaction of $1,395,720.00. Following the completion of the sale, the chief financial officer directly owned 168,468 shares of the company’s stock, valued at $39,189,026.16. The trade was a 3.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 264,933 shares of company stock valued at $61,475,760 over the last quarter. Insiders own 19.31% of the company’s stock.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $215.34 on Thursday. The stock has a market cap of $57.50 billion, a price-to-earnings ratio of 90.48, a PEG ratio of 2.90 and a beta of 1.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.10 and a quick ratio of 2.10. Workday, Inc. has a 12 month low of $205.33 and a 12 month high of $294.00. The stock’s 50 day moving average price is $233.95 and its 200 day moving average price is $236.47.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.15. Workday had a return on equity of 10.45% and a net margin of 6.95%.The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same period last year, the firm earned $1.89 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. Equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.