Caxton Associates LP Makes New $1.36 Million Investment in Workday, Inc. (NASDAQ:WDAY)

Caxton Associates LP acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,000 shares of the software maker’s stock, valued at approximately $1,364,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Workday by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after purchasing an additional 324,540 shares in the last quarter. Norges Bank acquired a new position in shares of Workday in the fourth quarter worth about $1,491,149,000. Sustainable Growth Advisers LP lifted its stake in shares of Workday by 9.7% in the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock worth $927,998,000 after acquiring an additional 301,463 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Workday by 12.4% in the first quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock worth $693,382,000 after acquiring an additional 281,207 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in shares of Workday by 5.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,511,764 shares of the software maker’s stock worth $417,338,000 after acquiring an additional 75,903 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Price Performance

WDAY traded down $0.13 during trading on Tuesday, reaching $227.00. The stock had a trading volume of 460,584 shares, compared to its average volume of 2,160,447. The firm has a market capitalization of $60.16 billion, a price-to-earnings ratio of 40.92, a price-to-earnings-growth ratio of 5.76 and a beta of 1.35. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 1-year low of $202.01 and a 1-year high of $311.28. The stock has a 50 day moving average of $222.51 and a two-hundred day moving average of $256.50.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 earnings per share. As a group, equities analysts anticipate that Workday, Inc. will post 2.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the company. DA Davidson cut their price target on Workday from $300.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Canaccord Genuity Group lowered their price objective on Workday from $305.00 to $270.00 and set a “buy” rating for the company in a report on Friday, May 24th. Loop Capital lowered their price objective on Workday from $280.00 to $240.00 and set a “hold” rating for the company in a report on Friday, May 24th. Jefferies Financial Group lowered their price objective on Workday from $350.00 to $330.00 and set a “buy” rating for the company in a report on Friday, May 24th. Finally, UBS Group lowered their price objective on Workday from $280.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $281.44.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $229.32, for a total value of $12,841,920.00. Following the completion of the sale, the insider now directly owns 562,000 shares in the company, valued at $128,877,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $229.32, for a total value of $12,841,920.00. Following the completion of the sale, the insider now owns 562,000 shares in the company, valued at $128,877,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 82,762 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $210.28, for a total value of $17,403,193.36. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $21,658,209.16. The disclosure for this sale can be found here. Insiders sold 524,672 shares of company stock worth $115,938,834 over the last ninety days. Company insiders own 20.00% of the company’s stock.

Workday Company 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.