Junto Capital Management LP Makes New $37.01 Million Investment in Workday, Inc. (NASDAQ:WDAY)

Junto Capital Management LP bought a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 143,428 shares of the software maker's stock, valued at approximately $37,009,000. Junto Capital Management LP owned 0.05% of Workday as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in WDAY. Roxbury Financial LLC purchased a new stake in Workday in the 4th quarter valued at approximately $25,000. Crews Bank & Trust purchased a new stake in shares of Workday in the fourth quarter valued at approximately $26,000. Avion Wealth grew its holdings in 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 during the period. TCTC Holdings LLC acquired a new position in Workday during the fourth quarter worth $35,000. Finally, Rakuten Securities Inc. raised its position in 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 acquiring an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Insider Activity at Workday

In other news, 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 completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $22,111,395.96. This trade represents a 44.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark S. Garfield sold 497 shares of the business'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 transaction, the chief accounting officer now directly owns 34,385 shares in the company, valued at $7,789,921.75. This trade represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 321,724 shares of company stock worth $77,976,126. Company insiders own 19.31% of the company's stock.

Workday Stock Performance

NASDAQ:WDAY opened at $259.01 on Friday. The company has a market cap of $68.90 billion, a P/E ratio of 42.95, a P/E/G ratio of 3.55 and a beta of 1.30. The firm's 50 day moving average is $238.49 and its two-hundred day moving average is $252.22. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY - Get Free Report) last issued 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). The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on WDAY shares. Scotiabank lowered their price target on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a research note on Monday, March 17th. Redburn Atlantic assumed coverage on shares of Workday in a research report on Wednesday, February 19th. They set a "neutral" rating on the stock. Morgan Stanley reduced their price target on shares of Workday from $275.00 to $250.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Jefferies Financial Group lowered their price target on Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Citigroup dropped their price objective on Workday from $287.00 to $270.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.

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