Figure 8 Investment Strategies LLC Has $804,000 Holdings in Workday, Inc. $WDAY

Figure 8 Investment Strategies LLC increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 84.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,571 shares of the software maker’s stock after purchasing an additional 3,003 shares during the quarter. Figure 8 Investment Strategies LLC’s holdings in Workday were worth $804,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Strategic Investment Advisors MI lifted its holdings in shares of Workday by 1.6% during the 2nd quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker’s stock worth $777,000 after acquiring an additional 50 shares during the period. L2 Asset Management LLC raised its position in Workday by 7.8% during the fourth quarter. L2 Asset Management LLC now owns 1,079 shares of the software maker’s stock valued at $232,000 after purchasing an additional 78 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Workday by 0.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,798 shares of the software maker’s stock valued at $5,326,000 after purchasing an additional 80 shares in the last quarter. Colonial Trust Co SC lifted its stake in Workday by 45.8% during the fourth quarter. Colonial Trust Co SC now owns 280 shares of the software maker’s stock worth $60,000 after purchasing an additional 88 shares during the last quarter. Finally, Scotia Capital Inc. boosted its holdings in shares of Workday by 5.4% in the 3rd quarter. Scotia Capital Inc. now owns 1,759 shares of the software maker’s stock valued at $423,000 after purchasing an additional 90 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Workday Stock Performance

Workday stock opened at $195.79 on Friday. The business has a 50 day moving average of $166.01 and a 200-day moving average of $142.61. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $48.36 billion, a P/E ratio of 39.71, a P/E/G ratio of 1.98 and a beta of 1.08.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, topping the consensus estimate of $2.61 by $0.14. Workday had a net margin of 12.32% and a return on equity of 20.95%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the company earned $2.21 EPS. The firm’s revenue was up 12.8% compared to the same quarter last year. On average, equities research analysts predict that Workday, Inc. will post 5.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Workday from a “hold” rating to a “buy” rating in a research note on Saturday. Canaccord Genuity Group raised their price objective on Workday from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. The Goldman Sachs Group lifted their target price on Workday from $151.00 to $164.00 and gave the company a “neutral” rating in a research report on Monday, August 31st. Needham & Company LLC boosted their target price on Workday from $180.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Finally, Oppenheimer increased their target price on shares of Workday from $165.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, August 24th. Twenty research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $206.34.

Insider Transactions at Workday

In other news, insider Robert Enslin sold 5,374 shares of Workday stock in a transaction on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total transaction of $724,952.60. Following the transaction, the insider owned 239,469 shares in the company, valued at approximately $32,304,368.10. The trade was a 2.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total value of $862,200.00. Following the completion of the sale, the chief financial officer owned 288,460 shares of the company’s stock, valued at $41,451,702. The trade was a 2.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 862,481 shares of company stock worth $116,785,581. Company insiders own 18.64% of the company’s stock.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.