Ulysses Management LLC Invests $14.19 Million in Workday, Inc. (NASDAQ:WDAY)

Ulysses Management LLC bought a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 55,000 shares of the software maker's stock, valued at approximately $14,192,000. Workday accounts for about 2.3% of Ulysses Management LLC's investment portfolio, making the stock its 10th largest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Roxbury Financial LLC purchased a new stake in shares of Workday in the fourth quarter worth approximately $25,000. Crews Bank & Trust purchased a new stake in shares of Workday in the fourth quarter worth approximately $26,000. Avion Wealth lifted its position in shares of Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after purchasing an additional 86 shares in the last quarter. TCTC Holdings LLC purchased a new stake in shares of Workday in the fourth quarter worth approximately $35,000. Finally, Rakuten Securities Inc. lifted 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 worth $39,000 after purchasing an additional 66 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 66,455 shares of Workday stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total value of $17,246,401.60. Following the completion of the sale, the insider now directly owns 102,997 shares of the company's stock, valued at approximately $26,729,781.44. This trade represents a 39.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sayan Chakraborty sold 6,056 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total value of $1,607,868.00. Following the completion of the transaction, the insider now owns 111,324 shares in the company, valued at $29,556,522. This represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 321,724 shares of company stock worth $77,976,126 in the last three months. Insiders own 19.31% of the company's stock.

Workday Trading Up 0.1%

Shares of WDAY opened at $273.30 on Tuesday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a 50 day simple moving average of $241.20 and a 200-day simple moving average of $253.77. The stock has a market cap of $72.70 billion, a PE ratio of 45.32, a PEG ratio of 3.55 and a beta of 1.30.

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 business 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%. On average, sell-side analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WDAY. The Goldman Sachs Group boosted their target price on Workday from $310.00 to $345.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Guggenheim reiterated a "neutral" rating on shares of Workday in a research note on Wednesday, February 26th. Morgan Stanley lowered their price objective on Workday from $275.00 to $250.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. BNP Paribas raised Workday to a "strong-buy" rating in a report on Friday, February 14th. Finally, Wells Fargo & Company lowered their price objective on Workday from $360.00 to $325.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Nine research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $293.62.

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.

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