Workday, Inc. $WDAY Stock: Fulcrum Asset Management LLP Grows Holdings

Key Points

• Fulcrum Asset Management increased its Workday stake by 10,858.5% in the third quarter, adding 25,409 shares and ending the period with 25,643 shares valued at about $4.85 million.
• Analysts’ consensus rating is Hold, with a consensus price target of $202.10; 22 analysts rate the stock Buy, 19 Hold, and two Sell.
• Workday beat quarterly estimates, reporting adjusted EPS of $2.75 versus $2.61 expected and revenue of $2.65 billion, up 12.8% year over year. Insiders sold nearly 988,104 shares worth about $188.8 million over the quarter.

Fulcrum Asset Management LLP raised its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 10,858.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,643 shares of the software maker's stock after buying an additional 25,409 shares during the period. Fulcrum Asset Management LLP's holdings in Workday were worth $4,851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in WDAY. Pictet Asset Management Holding SA raised its holdings in shares of Workday by 7.6% in the 3rd quarter. Pictet Asset Management Holding SA now owns 3,033,026 shares of the software maker's stock worth $577,639,000 after acquiring an additional 213,618 shares during the last quarter. Tidal Investments LLC lifted its position in Workday by 43.6% in the 2nd quarter. Tidal Investments LLC now owns 1,439,456 shares of the software maker's stock valued at $176,218,000 after acquiring an additional 437,175 shares in the last quarter. First Trust Advisors LP boosted its stake in Workday by 9.6% during the 1st quarter. First Trust Advisors LP now owns 1,416,176 shares of the software maker's stock valued at $183,990,000 after purchasing an additional 124,524 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Workday by 60.4% during the 1st quarter. Pacer Advisors Inc. now owns 1,227,051 shares of the software maker's stock valued at $159,418,000 after purchasing an additional 462,002 shares during the last quarter. Finally, Temasek Holdings Private Ltd boosted its stake in Workday by 9.5% during the 1st quarter. Temasek Holdings Private Ltd now owns 889,318 shares of the software maker's stock valued at $115,540,000 after purchasing an additional 77,330 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on WDAY. Oppenheimer reissued an "outperform" rating and set a $220.00 price objective (up from $165.00) on shares of Workday in a report on Wednesday, October 14th. Monness Crespi & Hardt raised their target price on Workday from $202.00 to $218.00 and gave the company a "buy" rating in a report on Friday, August 28th. Stifel Nicolaus lifted their target price on Workday from $160.00 to $175.00 and gave the company a "hold" rating in a research report on Thursday, October 15th. Lake Street Capital set a $205.00 target price on Workday in a research report on Friday, August 14th. Finally, Piper Sandler upped their price target on Workday from $145.00 to $190.00 and gave the stock a "neutral" rating in a report on Friday, August 28th. Twenty-two investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $202.10.

Insider Activity at Workday

In other news, major shareholder David Duffield sold 100,780 shares of the business's stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $185.64, for a total value of $18,708,799.20. Following the transaction, the insider owned 105,049 shares in the company, valued at $19,501,296.36. The trade was a 48.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 988,104 shares of company stock worth $188,811,574. 18.64% of the stock is owned by company insiders.

Workday Stock Down 1.4%

Workday stock opened at $190.21 on Tuesday. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $236.80. The stock has a market cap of $45.84 billion, a PE ratio of 38.58, a price-to-earnings-growth ratio of 2.03 and a beta of 1.02. The firm's 50-day simple moving average is $194.04 and its 200 day simple moving average is $156.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.61 by $0.14. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.64 billion. Workday had a net margin of 12.32% and a return on equity of 20.95%. The firm's quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.21 EPS. Research analysts predict that Workday, Inc. will post 5.32 EPS for the current fiscal year.

Workday Company Profile

Workday, Inc develops cloud-based software for managing human resources, finance and business operations. Its products include Workday Human Capital Management, Workday Financial Management and Workday Adaptive Planning, which help organizations manage areas such as workforce administration, accounting, budgeting and forecasting.

Founded in 2005 by Dave Duffield and Aneel Bhusri, Workday serves businesses, governments and educational institutions across a range of industries. Its operations and customer base extend across North America and international markets.

Carl Eschenbach is Workday's chief executive officer, and co-founder Aneel Bhusri serves as executive chair.

Want to see what other hedge funds are holding WDAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Workday, Inc. (NASDAQ:WDAY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.