Mission Wealth Management LP Purchases 5,435 Shares of Workday, Inc. $WDAY

by · The Markets Daily

Mission Wealth Management LP lifted its position in shares of Workday, Inc. (NASDAQ:WDAY – Free Report) by 92.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,338 shares of the software maker’s stock after acquiring an additional 5,435 shares during the quarter. Mission Wealth Management LP’s holdings in Workday were worth $2,729,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. AlphaQuest LLC grew its holdings in shares of Workday by 636.7% during the second quarter. AlphaQuest LLC now owns 1,886 shares of the software maker’s stock worth $453,000 after purchasing an additional 1,630 shares during the last quarter. PKO Investment Management Joint Stock Co bought a new position in Workday in the 3rd quarter valued at approximately $1,805,000. Phoenix Financial Ltd. acquired a new stake in Workday during the 3rd quarter worth approximately $2,000,000. Rakuten Investment Management Inc. bought a new stake in Workday during the 3rd quarter worth approximately $124,718,000. Finally, Norges Bank acquired a new position in Workday in the 2nd quarter valued at approximately $442,702,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Price Performance

Workday stock opened at $161.17 on Wednesday. The stock has a market capitalization of $42.39 billion, a price-to-earnings ratio of 67.72, a PEG ratio of 1.48 and a beta of 1.13. Workday, Inc. has a 52-week low of $157.00 and a 52-week high of $283.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83. The stock’s 50 day moving average price is $205.85 and its two-hundred day moving average price is $222.54.

Workday (NASDAQ:WDAY – Get Free Report) last released its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.15. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.42 billion. Workday had a net margin of 6.95% and a return on equity of 10.50%. Workday’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.89 EPS. On average, equities analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity

In related news, insider Gerrit S. Kazmaier sold 6,547 shares of the business’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $218.77, for a total value of $1,432,287.19. Following the completion of the sale, the insider directly owned 111,353 shares of the company’s stock, valued at $24,360,695.81. The trade was a 5.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $208.75, for a total value of $1,252,500.00. Following the transaction, the chief financial officer directly owned 159,158 shares in the company, valued at approximately $33,224,232.50. This trade represents a 3.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 370,321 shares of company stock valued at $78,866,401. Corporate insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of recent research reports. Sanford C. Bernstein cut their price target on shares of Workday from $304.00 to $298.00 and set an “outperform” rating on the stock in a report on Wednesday, November 26th. DA Davidson reduced their price target on Workday from $260.00 to $250.00 and set a “hold” rating on the stock in a research report on Wednesday, November 26th. Royal Bank Of Canada decreased their price target on Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. Cantor Fitzgerald restated an “overweight” rating on shares of Workday in a research report on Wednesday, November 26th. Finally, Morgan Stanley upped their target price on Workday from $255.00 to $280.00 and gave the company an “equal weight” rating in a report on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $277.00.

Check Out Our Latest Report on WDAY

Workday Profile

(Free Report)

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.

Read More

Want to see what other hedge funds are holding WDAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Workday, Inc. (NASDAQ:WDAY – Free Report).