RDST Capital LLC Takes $24.43 Million Position in Workday, Inc. (NASDAQ:WDAY)

RDST Capital LLC purchased a new stake in Workday, Inc. (NASDAQ:WDAY) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 109,280 shares of the software maker’s stock, valued at approximately $24,431,000. Workday makes up approximately 6.4% of RDST Capital LLC’s investment portfolio, making the stock its 9th largest holding.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Workday by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 199,304 shares of the software maker’s stock valued at $55,020,000 after acquiring an additional 3,231 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of Workday by 3.5% in the fourth quarter. D.A. Davidson & CO. now owns 1,241 shares of the software maker’s stock valued at $343,000 after acquiring an additional 42 shares during the last quarter. Advisory Services Network LLC increased its position in shares of Workday by 7.5% in the fourth quarter. Advisory Services Network LLC now owns 1,981 shares of the software maker’s stock valued at $547,000 after acquiring an additional 139 shares during the last quarter. Congress Wealth Management LLC DE increased its position in shares of Workday by 2.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 1,658 shares of the software maker’s stock valued at $458,000 after acquiring an additional 39 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its position in shares of Workday by 5.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,511,764 shares of the software maker’s stock valued at $417,338,000 after acquiring an additional 75,903 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the completion of the sale, the insider now directly owns 505,000 shares in the company, valued at $125,032,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.32, for a total value of $1,952,400.00. Following the completion of the transaction, the director now directly owns 97,500 shares in the company, valued at approximately $25,381,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction on Wednesday, September 18th. The shares were 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 owns 505,000 shares of the company’s stock, valued at $125,032,950. The disclosure for this sale can be found here. Insiders sold 467,402 shares of company stock worth $109,864,184 over the last three months. Insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of recent research reports. Evercore ISI lowered their target price on Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft lifted their target price on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Wells Fargo & Company boosted their price target on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Guggenheim reissued a “sell” rating and set a $190.00 price target on shares of Workday in a research report on Tuesday, June 25th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $286.48.

Workday Trading Down 1.3 %

Shares of WDAY stock opened at $245.03 on Tuesday. 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 $64.93 billion, a P/E ratio of 44.15, a price-to-earnings-growth ratio of 5.07 and a beta of 1.35. The stock has a 50 day simple moving average of $237.73 and a 200 day simple moving average of $241.81. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the company posted $0.40 earnings per share. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, 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.