Lighthouse Investment Partners LLC Invests $993,000 in Workday, Inc. (NASDAQ:WDAY)

Lighthouse Investment Partners LLC purchased a new position in Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,848 shares of the software maker’s stock, valued at approximately $993,000.

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

Insider Activity at Workday

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the sale, the insider now owns 111,324 shares in the company, valued at approximately $29,556,522. The trade was a 5.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Carl M. Eschenbach sold 3,125 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total value of $733,156.25. Following the completion of the transaction, the chief executive officer now owns 10,847 shares of the company’s stock, valued at approximately $2,544,814.67. The trade was a 22.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 321,724 shares of company stock valued at $77,976,126 in the last ninety days. Company insiders own 19.31% of the company’s stock.

Workday Price Performance

Shares of WDAY stock opened at $271.17 on Thursday. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. 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 firm 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 stock’s 50-day simple moving average is $239.33 and its 200-day simple moving average is $252.78.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). The company had revenue of $2.21 billion for 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%. As a group, equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

WDAY has been the subject of several research reports. Royal Bank of Canada upped their target price on Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. The Goldman Sachs Group upped their price objective on shares of Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Loop Capital increased their target price on shares of Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th. DA Davidson reduced their price target on shares of Workday from $270.00 to $230.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price target on shares of Workday in a research report on Monday, March 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average target price of $293.62.

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.