Seven Eight Capital LP Buys New Shares in Workday, Inc. (NASDAQ:WDAY)

Seven Eight Capital LP bought a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,105 shares of the software maker’s stock, valued at approximately $3,824,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Crewe Advisors LLC acquired a new stake in Workday in the 1st quarter valued at $27,000. Sound Income Strategies LLC grew its holdings 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 worth $31,000 after purchasing an additional 49 shares during the period. SouthState Corp increased its position in shares of Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after acquiring an additional 129 shares during the last quarter. Asset Dedication LLC purchased a new stake in Workday in the second quarter valued at approximately $36,000. Finally, PSI Advisors LLC acquired a new position in Workday during the 2nd quarter worth about $38,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Price Performance

Shares of WDAY opened at $248.12 on Wednesday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $65.75 billion, a P/E ratio of 44.71, a price-to-earnings-growth ratio of 5.07 and a beta of 1.35. The stock’s 50-day moving average price is $236.20 and its two-hundred day moving average price is $242.39.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the company earned $0.40 earnings per share. Workday’s quarterly revenue was up 16.5% on a year-over-year basis. On average, equities analysts predict that Workday, Inc. will post 2.39 earnings per share for the current year.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 78,279 shares of Workday stock in a transaction on Monday, July 1st. The stock was sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $223.89, for a total value of $17,525,885.31. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $218.58, for a total value of $12,240,480.00. Following the sale, the insider now owns 730,000 shares in the company, valued at $159,563,400. The disclosure for this sale can be found here. Insiders sold 466,402 shares of company stock valued at $107,992,034 in the last quarter. 20.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on WDAY shares. Bank of America lifted their price target on shares of Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. JMP Securities restated a “market outperform” rating and set a $315.00 target price on shares of Workday in a research report on Friday, May 24th. Wells Fargo & Company increased their price objective on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. KeyCorp boosted their price target on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, UBS Group cut their price target on shares of Workday from $280.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $286.30.

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.