Crow s Nest Holdings LP Has $60.36 Million Position in Workday, Inc. (NASDAQ:WDAY)

Crow s Nest Holdings LP increased its position in Workday, Inc. (NASDAQ:WDAY) by 14.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 270,000 shares of the software maker’s stock after purchasing an additional 35,000 shares during the period. Workday comprises about 13.6% of Crow s Nest Holdings LP’s investment portfolio, making the stock its 2nd biggest holding. Crow s Nest Holdings LP owned 0.10% of Workday worth $60,361,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Workday by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after purchasing an additional 324,540 shares in the last quarter. Sustainable Growth Advisers LP raised its position in shares of Workday by 9.7% during the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after buying an additional 301,463 shares during the last quarter. Clearbridge Investments LLC increased its stake in Workday by 12.4% in the first quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after acquiring an additional 281,207 shares during the period. Artisan Partners Limited Partnership increased its stake in 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 period. Finally, Meritage Group LP increased its stake in Workday by 27.5% in the first quarter. Meritage Group LP now owns 1,277,359 shares of the software maker’s stock valued at $348,400,000 after acquiring an additional 275,883 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Price Performance

Shares of Workday stock opened at $245.03 on Tuesday. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. 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 company has a 50-day simple moving average of $237.73 and a two-hundred day simple moving average of $241.81. The stock has a market capitalization of $64.93 billion, a price-to-earnings ratio of 44.15, a price-to-earnings-growth ratio of 5.07 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate of $1.65 by $0.10. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.40 EPS. Analysts forecast that Workday, Inc. will post 2.39 EPS for the current year.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $223.80, for a total transaction of $12,532,800.00. Following the sale, the insider now directly owns 674,000 shares of the company’s stock, valued at approximately $150,841,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $223.80, for a total value of $12,532,800.00. Following the transaction, the insider now owns 674,000 shares in the company, valued at approximately $150,841,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 78,279 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 102,997 shares in the company, valued at approximately $23,059,998.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 467,402 shares of company stock valued at $109,864,184. 20.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WDAY has been the topic of several research analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $285.00 price objective on shares of Workday in a research note on Wednesday, September 18th. Bank of America increased their price objective on shares of Workday from $265.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Guggenheim reiterated a “sell” rating and issued a $190.00 target price on shares of Workday in a report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Finally, Stifel Nicolaus raised their target price on shares of Workday from $250.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. One 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 company’s stock. According to data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average price target of $286.48.

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.