Workday, Inc. (NASDAQ:WDAY) Stake Raised by Crescent Park Management L.P.

Crescent Park Management L.P. grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 38.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,780 shares of the software maker’s stock after buying an additional 11,074 shares during the period. Workday accounts for 3.9% of Crescent Park Management L.P.’s investment portfolio, making the stock its 9th biggest position. Crescent Park Management L.P.’s holdings in Workday were worth $10,264,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Captrust Financial Advisors raised its stake in Workday by 24.2% in the 3rd quarter. Captrust Financial Advisors now owns 12,853 shares of the software maker’s stock valued at $3,141,000 after purchasing an additional 2,506 shares during the last quarter. Benjamin Edwards Inc. acquired a new position in shares of Workday in the third quarter valued at approximately $345,000. Ascent Group LLC lifted its stake in shares of Workday by 6.4% during the third quarter. Ascent Group LLC now owns 3,370 shares of the software maker’s stock valued at $824,000 after buying an additional 202 shares during the period. Cinctive Capital Management LP acquired a new stake in Workday during the third quarter worth approximately $1,222,000. Finally, Hilltop Holdings Inc. acquired a new stake in Workday during the third quarter worth approximately $629,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of recent analyst reports. Redburn Atlantic assumed coverage on Workday in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Jefferies Financial Group dropped their price target on shares of Workday from $350.00 to $325.00 and set a “buy” rating for the company in a research report on Monday. JPMorgan Chase & Co. increased their price target on shares of Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Scotiabank lowered their price objective on shares of Workday from $355.00 to $305.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. Finally, Stifel Nicolaus increased their target price on Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Ten 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 company. According to MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.18.

Workday Stock Performance

Shares of Workday stock opened at $234.53 on Wednesday. The firm has a market cap of $62.38 billion, a PE ratio of 38.89, a price-to-earnings-growth 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 firm’s 50-day simple moving average is $256.02 and its 200-day simple moving average is $254.58. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

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

Insider Buying and Selling at Workday

In other Workday news, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 70,144 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were 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 trade represents a 40.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 431,145 shares of company stock worth $108,631,438 over the last 90 days. 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.