Bornite Capital Management LP Has $20.46 Million Stock Position in Workday, Inc. (NASDAQ:WDAY)

Bornite Capital Management LP lessened its stake in Workday, Inc. (NASDAQ:WDAY) by 40.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,000 shares of the software maker’s stock after selling 50,000 shares during the period. Workday accounts for 3.4% of Bornite Capital Management LP’s portfolio, making the stock its 10th largest holding. Bornite Capital Management LP’s holdings in Workday were worth $20,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Crewe Advisors LLC bought a new stake in shares of Workday during the 1st quarter valued at $27,000. Sound Income Strategies LLC raised its position in shares of Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after acquiring an additional 49 shares during the last quarter. CVA Family Office LLC bought a new stake in shares of Workday during the 4th quarter valued at $33,000. Friedenthal Financial bought a new stake in shares of Workday during the 4th quarter valued at $43,000. Finally, VisionPoint Advisory Group LLC raised its position in shares of Workday by 27.6% during the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock valued at $43,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

WDAY has been the subject of several recent research reports. Mizuho dropped their target price on shares of Workday from $325.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Citigroup dropped their target price on shares of Workday from $293.00 to $255.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Oppenheimer lowered their price objective on shares of Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Sanford C. Bernstein lowered their price objective on shares of Workday from $321.00 to $301.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Finally, Bank of America lowered their price objective on shares of Workday from $330.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $281.44.

Workday Stock Down 0.7 %

Shares of Workday stock traded down $1.51 during trading hours on Monday, reaching $227.13. 1,025,751 shares of the company’s stock were exchanged, compared to its average volume of 2,172,249. The company has a 50 day moving average of $222.51 and a two-hundred day moving average of $256.50. Workday, Inc. has a fifty-two week low of $202.01 and a fifty-two week high of $311.28. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.37. The stock has a market cap of $60.19 billion, a P/E ratio of 40.92, a P/E/G ratio of 5.76 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the business posted $0.16 EPS. The company’s quarterly revenue was up 18.1% on a year-over-year basis. On average, sell-side analysts forecast that Workday, Inc. will post 2.12 EPS for the current fiscal year.

Insider Activity at Workday

In related news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total value of $669,267.24. Following the completion of the sale, the insider now directly owns 204,066 shares in the company, valued at approximately $43,759,913.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Workday news, major shareholder David A. Duffield sold 82,762 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $210.28, for a total value of $17,403,193.36. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $21,658,209.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total transaction of $669,267.24. Following the completion of the transaction, the insider now directly owns 204,066 shares in the company, valued at $43,759,913.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 524,672 shares of company stock worth $115,938,834. Insiders own 20.00% of the company’s stock.

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.