OFI Invest Asset Management Purchases New Shares in Workday, Inc. (NASDAQ:WDAY)

OFI Invest Asset Management purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,876 shares of the software maker’s stock, valued at approximately $1,464,000.

A number of other large investors also recently made changes to their positions in the company. Coalescence Partners Investment Management LP lifted its position in shares of Workday by 78.1% during the fourth quarter. Coalescence Partners Investment Management LP now owns 75,133 shares of the software maker’s stock valued at $19,387,000 after purchasing an additional 32,952 shares in the last quarter. Atlantic Union Bankshares Corp raised its position in Workday by 1.2% in the fourth quarter. Atlantic Union Bankshares Corp now owns 11,713 shares of the software maker’s stock worth $3,022,000 after acquiring an additional 143 shares during the period. Dorsey & Whitney Trust CO LLC raised its position in Workday by 25.8% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,935 shares of the software maker’s stock worth $499,000 after acquiring an additional 397 shares during the period. Larson Financial Group LLC raised its position in Workday by 17.4% in the fourth quarter. Larson Financial Group LLC now owns 885 shares of the software maker’s stock worth $228,000 after acquiring an additional 131 shares during the period. Finally, HM Payson & Co. raised its position in Workday by 34.4% in the fourth quarter. HM Payson & Co. now owns 2,869 shares of the software maker’s stock worth $740,000 after acquiring an additional 735 shares during the period. 89.81% of the stock is owned by institutional investors.

Insider Transactions at Workday

In related news, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction 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. This represents a 1.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 70,090 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,215,826.41. This represents a 40.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 435,829 shares of company stock worth $113,033,319. 20.00% of the stock is currently owned by insiders.

Workday Trading Down 0.5 %

Shares of WDAY opened at $252.38 on Monday. The firm has a market cap of $67.13 billion, a price-to-earnings ratio of 41.85, a PEG ratio of 3.55 and a beta of 1.38. 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, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The firm has a 50 day moving average price of $258.39 and a 200-day moving average price of $255.93.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The business had revenue of $2.21 billion during 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, equities research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WDAY has been the topic of several research reports. Oppenheimer lifted their price objective on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Barclays lowered their price objective on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Daiwa America upgraded shares of Workday to a “strong-buy” rating in a research note on Tuesday, March 4th. BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a research note on Friday, February 14th. Finally, Piper Sandler lifted their target price on shares of Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $302.14.

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.