Lighthouse Investment Partners LLC Acquires Shares of 3,848 Workday, Inc. (NASDAQ:WDAY)

Lighthouse Investment Partners LLC bought a new position in Workday, Inc. (NASDAQ:WDAY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,848 shares of the software maker’s stock, valued at approximately $993,000.

A number of other institutional investors have also recently made changes to their positions in the company. Investment Management Corp of Ontario lifted its position in Workday by 36.8% in the 4th quarter. Investment Management Corp of Ontario now owns 9,631 shares of the software maker’s stock valued at $2,485,000 after acquiring an additional 2,593 shares in the last quarter. Jefferies Financial Group Inc. raised its stake in shares of Workday by 8.1% in the fourth quarter. Jefferies Financial Group Inc. now owns 10,326 shares of the software maker’s stock worth $2,664,000 after purchasing an additional 770 shares during the last quarter. Junto Capital Management LP bought a new position in shares of Workday during the fourth quarter valued at $37,009,000. Hyperion Asset Management Ltd boosted its position in shares of Workday by 18.1% during the fourth quarter. Hyperion Asset Management Ltd now owns 596,362 shares of the software maker’s stock valued at $153,879,000 after buying an additional 91,193 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its holdings in Workday by 13.3% in the 4th quarter. Ensign Peak Advisors Inc now owns 314,165 shares of the software maker’s stock worth $81,064,000 after buying an additional 36,808 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the topic of several research analyst reports. JMP Securities restated a “market outperform” rating and set a $315.00 target price on shares of Workday in a research note on Thursday, February 6th. Piper Sandler decreased their price objective on shares of Workday from $290.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. raised their target price on shares of Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Westpark Capital started coverage on shares of Workday in a research note on Tuesday, May 6th. They set a “buy” rating and a $315.00 target price for the company. Finally, Guggenheim reissued a “neutral” rating on shares of Workday in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus price target of $293.62.

Insider Transactions at Workday

In related news, CAO Mark S. Garfield sold 497 shares of the company’s stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the sale, the chief accounting officer now owns 34,385 shares of the company’s stock, valued at $7,789,921.75. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Carl M. Eschenbach sold 3,125 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total transaction of $733,156.25. Following the completion of the sale, the chief executive officer now owns 10,847 shares in the company, valued at approximately $2,544,814.67. This trade represents a 22.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 321,724 shares of company stock valued at $77,976,126 in the last ninety days. Corporate insiders own 19.31% of the company’s stock.

Workday Stock Performance

WDAY opened at $271.17 on Thursday. 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 stock has a market capitalization of $72.13 billion, a price-to-earnings ratio of 44.97, a PEG ratio of 3.55 and a beta of 1.30. The company has a fifty day moving average of $239.33 and a 200 day moving average of $252.78. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00.

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). The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. As a group, sell-side analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.