D1 Capital Partners L.P. Acquires 312,500 Shares of Workday, Inc. (NASDAQ:WDAY)

D1 Capital Partners L.P. boosted its holdings in Workday, Inc. (NASDAQ:WDAY) by 152.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 518,000 shares of the software maker’s stock after acquiring an additional 312,500 shares during the quarter. Workday accounts for about 2.0% of D1 Capital Partners L.P.’s investment portfolio, making the stock its 20th largest position. D1 Capital Partners L.P. owned 0.20% of Workday worth $115,804,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Crewe Advisors LLC purchased a new stake in Workday in the first quarter valued at approximately $27,000. Sound Income Strategies LLC grew its position in Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after acquiring an additional 49 shares in the last quarter. SouthState Corp increased its stake in Workday by 614.3% in 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 during the second quarter valued at about $36,000. Finally, PSI Advisors LLC purchased a new stake in Workday during the second quarter valued at about $38,000. Institutional investors own 89.81% of the company’s stock.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the sale, the insider now directly owns 505,000 shares of the company’s stock, valued at approximately $125,032,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $223.80, for a total transaction of $12,532,800.00. Following the completion of the sale, the insider now owns 674,000 shares of the company’s stock, valued at $150,841,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total value of $14,112,630.00. Following the completion of the transaction, the insider now directly owns 505,000 shares in the company, valued at approximately $125,032,950. The disclosure for this sale can be found here. Insiders sold a total of 467,402 shares of company stock valued at $109,864,184 in the last quarter. 20.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Barclays boosted their target price on Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Morgan Stanley cut their price objective on shares of Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Guggenheim reiterated a “sell” rating and issued a $190.00 target price on shares of Workday in a research report on Tuesday, June 25th. The Goldman Sachs Group boosted their price target on shares of Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Workday in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $286.48.

Workday Trading Up 0.3 %

WDAY opened at $248.29 on Monday. The business has a 50 day moving average of $237.48 and a 200-day moving average of $241.95. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $65.80 billion, a PE ratio of 44.74, a PEG ratio of 5.07 and a beta of 1.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28.

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

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.