Workday, Inc. (NASDAQ:WDAY) is TenCore Partners LP's 5th Largest Position

TenCore Partners LP lessened its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 9.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,301 shares of the software maker's stock after selling 6,350 shares during the quarter. Workday makes up 8.1% of TenCore Partners LP's holdings, making the stock its 5th biggest position. TenCore Partners LP's holdings in Workday were worth $16,334,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Bristlecone Advisors LLC grew its stake in Workday by 49.6% during the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock worth $754,000 after buying an additional 968 shares in the last quarter. Burns Matteson Capital Management LLC acquired a new position in shares of Workday in the fourth quarter valued at approximately $369,000. Smith Group Asset Management LLC increased its stake in shares of Workday by 9.4% in the fourth quarter. Smith Group Asset Management LLC now owns 109,013 shares of the software maker's stock valued at $28,129,000 after buying an additional 9,324 shares during the period. Swedbank AB increased its stake in shares of Workday by 17.7% in the fourth quarter. Swedbank AB now owns 97,529 shares of the software maker's stock valued at $25,165,000 after buying an additional 14,682 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Workday in the fourth quarter valued at approximately $8,984,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Stock Performance

WDAY stock traded down $5.30 during trading on Wednesday, reaching $268.54. The stock had a trading volume of 1,590,066 shares, compared to its average volume of 2,565,385. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The stock's 50 day moving average is $241.93 and its two-hundred day moving average is $253.91. 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 firm has a market cap of $71.43 billion, a PE ratio of 44.53, a PEG ratio of 3.55 and a beta of 1.30.

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

Insider Transactions at Workday

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of Workday stock in a transaction that occurred 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 of the company's stock, valued at $29,556,522. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 81,275 shares of the stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total value of $17,448,117.00. Following the sale, the insider now owns 102,997 shares of the company's stock, valued at $22,111,395.96. This represents a 44.11% 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 in the last three months. Corporate insiders own 19.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WDAY shares. Morgan Stanley cut their target price on Workday from $275.00 to $250.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Stifel Nicolaus lifted their price target on Workday from $270.00 to $310.00 and gave the company a "hold" rating in a research note on Wednesday, February 26th. DA Davidson cut their price target on Workday from $270.00 to $230.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. JMP Securities reiterated a "market outperform" rating and set a $315.00 price target on shares of Workday in a research note on Thursday, February 6th. Finally, Royal Bank of Canada lifted their price target on Workday from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Workday presently has a consensus rating of "Moderate Buy" and an average price target of $293.62.

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.