Alight Capital Management LP Purchases New Holdings in Workday, Inc. (NASDAQ:WDAY)

Alight Capital Management LP bought a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 15,500 shares of the software maker's stock, valued at approximately $3,999,000. Workday makes up approximately 1.3% of Alight Capital Management LP's investment portfolio, making the stock its 24th largest holding.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after acquiring an additional 4,517,272 shares during the period. Geode Capital Management LLC lifted its position in Workday by 61.9% in the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock worth $1,193,105,000 after buying an additional 1,772,223 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Workday by 60.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock worth $960,454,000 after buying an additional 1,406,088 shares during the period. FIL Ltd lifted its stake in shares of Workday by 6.5% during the 4th quarter. FIL Ltd now owns 2,963,124 shares of the software maker's stock worth $764,575,000 after acquiring an additional 181,899 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Workday by 5.4% during the 4th quarter. Clearbridge Investments LLC now owns 2,663,398 shares of the software maker's stock valued at $687,237,000 after acquiring an additional 136,211 shares during the period. Hedge funds and other institutional investors own 89.81% of the company's stock.

Workday Stock Performance

WDAY stock traded down $0.34 during mid-day trading on Monday, reaching $248.34. The company had a trading volume of 807,956 shares, compared to its average volume of 2,587,560. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock's 50-day simple moving average is $239.28 and its two-hundred day simple moving average is $251.98. The stock has a market capitalization of $66.06 billion, a P/E ratio of 41.18, a P/E/G ratio of 3.55 and a beta of 1.30. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Scotiabank lowered their target price on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. KeyCorp lifted their price target on shares of Workday from $305.00 to $335.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Stifel Nicolaus upped their price objective on shares of Workday from $270.00 to $310.00 and gave the stock a "hold" rating in a research note on Wednesday, February 26th. Oppenheimer increased their price objective on shares of Workday from $300.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Finally, UBS Group lifted their target price on Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Workday has a consensus rating of "Moderate Buy" and a consensus price target of $292.86.

Insiders Place Their Bets

In other news, insider Sayan Chakraborty sold 6,056 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the transaction, the insider now owns 111,324 shares in the company, valued at approximately $29,556,522. This trade represents a 5.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark S. Garfield sold 497 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total value of $112,595.35. Following the sale, the chief accounting officer now directly owns 34,385 shares of the company's stock, valued at $7,789,921.75. The trade was a 1.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 321,724 shares of company stock worth $77,976,126. 20.00% of the stock is currently owned by company insiders.

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.