Fourpath Capital Management LLC Raises Stock Position in Workday, Inc. (NASDAQ:WDAY)

Fourpath Capital Management LLC lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 12.8% during the first quarter, HoldingsChannel.com reports. The fund owned 901 shares of the software maker’s stock after buying an additional 102 shares during the quarter. Fourpath Capital Management LLC’s holdings in Workday were worth $210,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after acquiring an additional 4,517,272 shares during the period. Geode Capital Management LLC increased its position in shares of Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock worth $1,193,105,000 after acquiring an additional 1,772,223 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Workday by 60.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker’s stock worth $960,454,000 after acquiring an additional 1,406,088 shares during the period. Brown Advisory Inc. increased its position in shares of Workday by 1.5% during the fourth quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker’s stock worth $911,027,000 after acquiring an additional 52,104 shares during the period. Finally, FIL Ltd boosted its stake in shares of Workday by 6.5% during the fourth quarter. FIL Ltd now owns 2,963,124 shares of the software maker’s stock valued at $764,575,000 after purchasing an additional 181,899 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $252.73 on Wednesday. The company has a market cap of $67.48 billion, a PE ratio of 41.91, a price-to-earnings-growth ratio of 3.55 and a beta of 1.24. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company has a 50-day simple moving average of $243.42 and a 200-day simple moving average of $252.78.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.22. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period last year, the company earned $1.74 earnings per share. The company’s quarterly revenue was up 12.6% on a year-over-year basis. On average, equities analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 71,672 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,602,994.26. The trade was a 41.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the completion of the sale, the director now directly owns 75,000 shares in the company, valued at $18,099,750. This represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 259,838 shares of company stock valued at $61,738,776 over the last ninety days. Corporate insiders own 19.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a research note on Friday, February 14th. JMP Securities reiterated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research note on Friday, May 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Workday from $310.00 to $295.00 and set an “overweight” rating on the stock in a research note on Friday, May 23rd. Citigroup downgraded shares of Workday from a “neutral” rating to a “mixed” rating in a research note on Friday, May 16th. Finally, Daiwa America upgraded shares of Workday to a “strong-buy” rating in a research note on Tuesday, March 4th. Nine research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $293.54.

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.