Coalescence Partners Investment Management LP Purchases 32,952 Shares of Workday, Inc. (NASDAQ:WDAY)

Coalescence Partners Investment Management LP increased its position in Workday, Inc. (NASDAQ:WDAY) by 78.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,133 shares of the software maker’s stock after purchasing an additional 32,952 shares during the quarter. Workday makes up 7.3% of Coalescence Partners Investment Management LP’s portfolio, making the stock its 7th biggest position. Coalescence Partners Investment Management LP’s holdings in Workday were worth $19,387,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WDAY. Roxbury Financial LLC bought a new stake in Workday in the fourth quarter valued at about $25,000. Capital Performance Advisors LLP acquired a new stake in shares of Workday in the 3rd quarter valued at approximately $26,000. Crews Bank & Trust bought a new position in Workday during the 4th quarter worth approximately $26,000. Avion Wealth increased its stake in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares during the period. 89.81% of the stock is owned by institutional investors.

Workday Stock Down 0.5 %

WDAY stock opened at $252.38 on Friday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $67.13 billion, a PE ratio of 41.85, a PEG ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The business’s 50 day simple moving average is $258.39 and its 200 day simple moving average is $255.78.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. As a group, research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Insider Buying and Selling at Workday

In related news, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the sale, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 66,455 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total value of $17,246,401.60. Following the transaction, the insider now owns 102,997 shares in the company, valued at $26,729,781.44. The trade was a 39.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 435,829 shares of company stock valued at $113,033,319 in the last three months. 20.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group lifted their price objective on Workday from $300.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Guggenheim reissued a “neutral” rating on shares of Workday in a research report on Wednesday, February 26th. Morgan Stanley lowered shares of Workday from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $330.00 to $275.00 in a report on Wednesday, February 19th. Royal Bank of Canada upped 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. Finally, Stifel Nicolaus lifted their price target on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Workday presently has an average rating of “Moderate Buy” and an average price target of $302.14.

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.