Workday, Inc. (NASDAQ:WDAY) Shares Acquired by Fernbridge Capital Management LP

Fernbridge Capital Management LP increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 32.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 419,378 shares of the software maker’s stock after acquiring an additional 103,129 shares during the quarter. Workday comprises 6.3% of Fernbridge Capital Management LP’s investment portfolio, making the stock its 5th biggest position. Fernbridge Capital Management LP owned about 0.16% of Workday worth $102,500,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Cynosure Group LLC increased its stake in shares of Workday by 6.0% in the 3rd quarter. Cynosure Group LLC now owns 22,661 shares of the software maker’s stock worth $5,539,000 after acquiring an additional 1,279 shares during the last quarter. Townsquare Capital LLC increased its position in Workday by 39.0% during the third quarter. Townsquare Capital LLC now owns 110,489 shares of the software maker’s stock worth $27,005,000 after purchasing an additional 31,001 shares during the last quarter. Brooklyn Investment Group raised its stake in Workday by 18.8% during the third quarter. Brooklyn Investment Group now owns 1,100 shares of the software maker’s stock worth $269,000 after purchasing an additional 174 shares during the period. Quantbot Technologies LP boosted its holdings in Workday by 26.2% in the 3rd quarter. Quantbot Technologies LP now owns 27,509 shares of the software maker’s stock valued at $6,723,000 after purchasing an additional 5,711 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Workday by 0.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock valued at $566,094,000 after buying an additional 14,159 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Up 0.9 %

Workday stock opened at $270.19 on Wednesday. The company has a market capitalization of $71.60 billion, a P/E ratio of 47.07, a PEG ratio of 5.31 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The stock has a 50-day simple moving average of $248.52 and a 200-day simple moving average of $237.21.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 EPS. Equities research analysts expect that Workday, Inc. will post 2.4 earnings per share for the current year.

Insider Activity at Workday

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $255.45, for a total value of $1,915,875.00. Following the transaction, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. The trade was a 7.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,902,816.40. This trade represents a 39.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 359,954 shares of company stock worth $88,742,132 in the last quarter. Company insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on WDAY shares. Loop Capital lifted their price target on shares of Workday from $255.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upped their price target on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Canaccord Genuity Group reissued a “buy” rating and set a $300.00 price objective on shares of Workday in a research report on Friday, September 13th. Scotiabank assumed coverage on shares of Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price for the company. Finally, Piper Sandler reissued an “overweight” rating and issued a $285.00 price target on shares of Workday in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.46.

About Workday

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.