Workday, Inc. (NASDAQ:WDAY) is TenCore Partners LP’s 5th Largest Position

TenCore Partners LP trimmed its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 9.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,301 shares of the software maker’s stock after selling 6,350 shares during the period. Workday comprises approximately 8.1% of TenCore Partners LP’s investment portfolio, making the stock its 5th largest holding. TenCore Partners LP’s holdings in Workday were worth $16,334,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Simplicity Wealth LLC boosted its stake 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 acquiring an additional 37 shares during the last quarter. Custom Index Systems LLC raised its holdings in shares of Workday by 3.0% in the 4th 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 during the period. AllSquare Wealth Management LLC raised its holdings in shares of Workday by 19.4% in the 4th quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock worth $65,000 after purchasing an additional 41 shares during the period. CreativeOne Wealth LLC lifted its stake in Workday by 1.5% in the fourth quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker’s stock valued at $745,000 after purchasing an additional 43 shares during the last quarter. Finally, Ashton Thomas Securities LLC grew its holdings in Workday by 3.2% during the fourth quarter. Ashton Thomas Securities LLC now owns 1,494 shares of the software maker’s stock valued at $385,000 after purchasing an additional 46 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Performance

Workday stock opened at $273.05 on Friday. 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 stock has a market cap of $72.63 billion, a P/E ratio of 45.28, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30. The firm’s fifty day moving average price is $240.57 and its 200-day moving average price is $253.40.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WDAY. Redburn Atlantic began coverage on Workday in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Needham & Company LLC restated a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Monday, March 24th. BMO Capital Markets increased their target price on shares of Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a research note on Friday, February 14th. Finally, Mizuho dropped their price target on shares of Workday from $320.00 to $275.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Ten analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and an average target price of $293.62.

Insider Activity at Workday

In other Workday news, CAO Mark S. Garfield sold 497 shares of the company’s stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total value of $112,595.35. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 81,275 shares of Workday stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $22,111,395.96. This trade represents a 44.11% 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 19.31% of the company’s stock.

Workday 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.