Workday, Inc. (NASDAQ:WDAY) Stake Raised by Fernbridge Capital Management LP

Fernbridge Capital Management LP lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 32.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 419,378 shares of the software maker’s stock after purchasing an additional 103,129 shares during the quarter. Workday comprises about 6.3% of Fernbridge Capital Management LP’s investment portfolio, making the stock its 5th largest position. Fernbridge Capital Management LP’s holdings in Workday were worth $102,500,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of Workday in the third quarter valued at $26,000. SouthState Corp lifted its holdings in shares of Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after purchasing an additional 129 shares in the last quarter. Crewe Advisors LLC grew its position in shares of Workday by 56.6% in the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after purchasing an additional 56 shares during the last quarter. Goodman Advisory Group LLC acquired a new position in shares of Workday during the 2nd quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. grew its holdings in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WDAY shares. Canaccord Genuity Group restated a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft raised their price objective on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. BMO Capital Markets reiterated an “outperform” rating and issued a $300.00 target price on shares of Workday in a research note on Wednesday, September 18th. Stifel Nicolaus raised their price target on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Finally, Loop Capital upped their price objective on shares of Workday from $255.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $289.46.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Monday, October 14th. The shares were sold at an average price of $242.01, for a total value of $13,552,560.00. Following the completion of the transaction, the insider now owns 281,000 shares of the company’s stock, valued at $68,004,810. The trade was a 16.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the sale, the director now directly owns 8,674 shares in the company, valued at $2,097,806.90. This trade represents a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 359,954 shares of company stock valued at $88,742,132. Insiders own 20.00% of the company’s stock.

Workday Trading Up 0.9 %

Shares of WDAY opened at $270.19 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The stock has a 50-day moving average price of $248.52 and a 200 day moving average price of $237.21. The company has a market capitalization of $71.60 billion, a P/E ratio of 47.07, a P/E/G ratio of 5.31 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 earnings per share. Sell-side analysts forecast that Workday, Inc. will post 2.4 EPS 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.