500,000 Shares in Workday, Inc. (NASDAQ:WDAY) Purchased by Third Point LLC

Third Point LLC acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 500,000 shares of the software maker’s stock, valued at approximately $129,015,000. Workday accounts for 1.7% of Third Point LLC’s holdings, making the stock its 25th largest holding. Third Point LLC owned approximately 0.19% of Workday at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Simplicity Wealth LLC raised its position in Workday by 3.0% in the fourth quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock valued at $330,000 after purchasing an additional 37 shares during the last quarter. Marcum Wealth LLC lifted its holdings in Workday by 4.4% in the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after buying an additional 41 shares during the period. Custom Index Systems LLC increased its holdings in Workday by 3.0% in the fourth 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 raised its stake in Workday by 19.4% during the 4th quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock worth $65,000 after buying an additional 41 shares during the period. Finally, CreativeOne Wealth LLC raised its position in shares of Workday by 1.5% during the fourth quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker’s stock worth $745,000 after purchasing an additional 43 shares during the period. Institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In related news, insider Sayan Chakraborty sold 6,056 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total value 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 approximately $29,556,522. This trade represents a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 497 shares of the company’s stock in a transaction dated 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 in the company, valued at $7,789,921.75. This represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 321,724 shares of company stock valued at $77,976,126. Corporate insiders own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WDAY shares. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Scotiabank cut their target price on Workday from $355.00 to $305.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. Oppenheimer boosted their target price on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on shares of Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, DA Davidson reduced their price target on shares of Workday from $270.00 to $230.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $292.86.

Workday Trading Up 0.7 %

Shares of NASDAQ:WDAY opened at $245.00 on Thursday. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The stock has a market capitalization of $65.17 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 3.55 and a beta of 1.32. 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’s 50-day simple moving average is $239.72 and its two-hundred day simple moving average is $251.78.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Analysts expect that Workday, Inc. will post 2.63 EPS for the current 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.