Sone Capital Management LLC Invests $5.91 Million in Workday, Inc. (NASDAQ:WDAY)

Sone Capital Management LLC bought a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 22,910 shares of the software maker's stock, valued at approximately $5,911,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Crews Bank & Trust bought a new position in Workday in the 4th quarter worth approximately $26,000. Roxbury Financial LLC purchased a new stake in shares of Workday during the fourth quarter worth $25,000. Avion Wealth lifted its position in shares of Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after acquiring an additional 86 shares in the last quarter. TCTC Holdings LLC bought a new position in shares of Workday in the fourth quarter worth $35,000. Finally, Rakuten Securities Inc. grew its position in shares of Workday by 78.6% in the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after purchasing an additional 66 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

Workday Trading Up 1.3%

WDAY stock traded up $3.53 on Thursday, reaching $272.07. The company's stock had a trading volume of 4,120,224 shares, compared to its average volume of 2,573,375. The firm has a market cap of $72.37 billion, a PE ratio of 45.12, a PEG ratio of 3.55 and a beta of 1.30. The business has a fifty day simple moving average of $242.42 and a two-hundred day simple moving average of $254.01. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping the consensus estimate of $2.01 by $0.22. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the firm posted $1.74 earnings per share. As a group, research analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of analyst reports. BNP Paribas upgraded Workday to a "strong-buy" rating in a research note on Friday, February 14th. Oppenheimer increased their price target on shares of Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Canaccord Genuity Group raised their price objective on shares of Workday from $300.00 to $330.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Piper Sandler decreased their target price on shares of Workday from $290.00 to $230.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus raised their price target on shares of Workday from $270.00 to $310.00 and gave the company a "hold" rating in a report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Workday currently has an average rating of "Moderate Buy" and a consensus target price of $293.62.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 81,275 shares of the firm's stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the completion of the transaction, the insider now owns 102,997 shares of the company's stock, valued at approximately $22,111,395.96. This trade represents a 44.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Mark S. Garfield sold 497 shares of the business's stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the sale, the chief accounting officer now directly owns 34,385 shares in the company, 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. Insiders sold 321,724 shares of company stock worth $77,976,126 over the last three months. Company insiders own 19.31% of the company's stock.

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.