Sycomore Asset Management Buys 31,050 Shares of Workday, Inc. (NASDAQ:WDAY)

Sycomore Asset Management increased its position in Workday, Inc. (NASDAQ:WDAY) by 46.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,189 shares of the software maker’s stock after acquiring an additional 31,050 shares during the period. Workday makes up about 3.0% of Sycomore Asset Management’s investment portfolio, making the stock its 7th biggest position. Sycomore Asset Management’s holdings in Workday were worth $24,099,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC grew its position in shares of Workday by 10.7% in the fourth quarter. Opal Wealth Advisors LLC now owns 1,047 shares of the software maker’s stock valued at $270,000 after purchasing an additional 101 shares during the last quarter. Burns Matteson Capital Management LLC acquired a new stake in shares of Workday during the 4th quarter worth about $369,000. 17 Capital Partners LLC raised its holdings in Workday by 2.4% in the 4th quarter. 17 Capital Partners LLC now owns 2,534 shares of the software maker’s stock valued at $654,000 after acquiring an additional 60 shares during the last quarter. Quotient Wealth Partners LLC lifted its position in Workday by 13.5% during the fourth quarter. Quotient Wealth Partners LLC now owns 983 shares of the software maker’s stock worth $254,000 after buying an additional 117 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of Workday by 35.2% during the 4th quarter. Empowered Funds LLC now owns 9,936 shares of the software maker’s stock worth $2,564,000 after acquiring an additional 2,587 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Oppenheimer reiterated an “outperform” rating and issued a $300.00 target price on shares of Workday in a report on Tuesday, December 3rd. Scotiabank started coverage on shares of Workday in a research report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price for the company. Wells Fargo & Company increased their price objective on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. StockNews.com lowered shares of Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, The Goldman Sachs Group increased their price target on Workday from $300.00 to $310.00 and gave the company a “buy” rating in a report on Thursday. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.43.

Workday Price Performance

WDAY opened at $271.89 on Monday. The stock has a fifty day moving average price of $262.08 and a 200 day moving average price of $250.38. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The stock has a market cap of $72.32 billion, a price-to-earnings ratio of 45.09, a PEG ratio of 3.78 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 earnings per share. Analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity

In related news, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the transaction, the chief accounting officer now owns 35,408 shares in the company, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their position. 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 56,000 shares of Workday stock in a transaction on Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the transaction, the insider now directly owns 60,000 shares of the company’s stock, valued at approximately $14,785,200. The trade was a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 438,819 shares of company stock valued at $113,142,592. 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.