Stevens Capital Management LP Takes Position in Workday, Inc. (NASDAQ:WDAY)

Stevens Capital Management LP purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,037 shares of the software maker’s stock, valued at approximately $286,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Beacon Capital Management LLC increased its holdings in Workday by 333.3% in the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after acquiring an additional 70 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Workday by 1,750.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after acquiring an additional 105 shares in the last quarter. CVA Family Office LLC purchased a new stake in Workday in the 4th quarter worth approximately $33,000. VisionPoint Advisory Group LLC grew its holdings in Workday by 215.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after buying an additional 84 shares in the last quarter. Finally, Clear Street Markets LLC purchased a new stake in Workday during the 3rd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

WDAY has been the subject of a number of research reports. Piper Sandler reiterated an “overweight” rating and set a $330.00 target price on shares of Workday in a research report on Monday, February 26th. JMP Securities restated a “market outperform” rating and set a $315.00 price target on shares of Workday in a research note on Tuesday, February 27th. Evercore ISI raised their price target on Workday from $310.00 to $350.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. lifted their target price on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Finally, KeyCorp lifted their target price on Workday from $310.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $293.61.

Workday Stock Down 1.2 %

WDAY stock traded down $3.02 during mid-day trading on Friday, reaching $251.04. The company had a trading volume of 2,548,897 shares, compared to its average volume of 1,760,684. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The company has a market capitalization of $66.27 billion, a price-to-earnings ratio of 49.33, a price-to-earnings-growth ratio of 6.39 and a beta of 1.32. The firm has a fifty day simple moving average of $274.53 and a 200 day simple moving average of $263.53. Workday, Inc. has a fifty-two week low of $174.25 and a fifty-two week high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. Workday had a return on equity of 4.87% and a net margin of 19.02%. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the business posted ($0.14) EPS. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. Analysts forecast that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity at Workday

In other Workday news, insider Richard Harry Sauer sold 8,447 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $268.21, for a total transaction of $2,265,569.87. Following the sale, the insider now directly owns 66,356 shares in the company, valued at $17,797,342.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder David A. Duffield sold 65,221 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $268.29, for a total value of $17,498,142.09. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $27,633,065.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard Harry Sauer sold 8,447 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $268.21, for a total value of $2,265,569.87. Following the completion of the transaction, the insider now owns 66,356 shares of the company’s stock, valued at $17,797,342.76. The disclosure for this sale can be found here. Insiders have sold a total of 435,691 shares of company stock worth $117,731,569 over the last three months. 21.09% 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.