Diametric Capital LP Makes New Investment in Workday, Inc. (NASDAQ:WDAY)

Diametric Capital LP purchased a new stake in Workday, Inc. (NASDAQ:WDAY) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,071 shares of the software maker’s stock, valued at approximately $1,050,000.

Several other large investors have also modified their holdings of WDAY. Captrust Financial Advisors grew its holdings in Workday by 24.2% during the 3rd quarter. Captrust Financial Advisors now owns 12,853 shares of the software maker’s stock valued at $3,141,000 after buying an additional 2,506 shares during the last quarter. Fred Alger Management LLC purchased a new stake in shares of Workday in the third quarter valued at $56,000. Wasatch Advisors LP boosted its stake in shares of Workday by 69.4% during the third quarter. Wasatch Advisors LP now owns 11,687 shares of the software maker’s stock valued at $2,856,000 after acquiring an additional 4,787 shares during the last quarter. True Wealth Design LLC raised its stake in Workday by 4,766.7% in the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after purchasing an additional 143 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new position in Workday in the 3rd quarter valued at about $8,092,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on WDAY. The Goldman Sachs Group lifted their price target on shares of Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Royal Bank of Canada lifted their target price on shares of Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Citigroup reduced their price target on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Mizuho lifted their price objective on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, BMO Capital Markets upped their target price on Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Ten equities research 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. According to MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus target price of $300.18.

Workday Trading Down 2.1 %

WDAY opened at $233.53 on Tuesday. The firm’s 50 day moving average is $256.35 and its 200-day moving average is $254.69. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $62.12 billion, a P/E ratio of 38.73, a P/E/G ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last released its quarterly 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 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%. Analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 70,144 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $250.26, for a total value of $17,554,237.44. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $25,776,029.22. This represents a 40.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Wayne A.I. Frederick sold 1,829 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the transaction, the director now owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 431,145 shares of company stock worth $108,631,438. 20.00% of the stock is currently owned by corporate insiders.

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.