Neo Ivy Capital Management acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY - Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,212 shares of the software maker's stock, valued at approximately $1,207,000. Workday makes up 0.8% of Neo Ivy Capital Management's portfolio, making the stock its 10th largest holding.
Several other hedge funds also recently added to or reduced their stakes in WDAY. Elequin Securities LLC purchased a new position in shares of Workday in the fourth quarter worth approximately $27,000. Guardian Wealth Advisors LLC bought a new stake in shares of Workday in the 3rd quarter worth about $29,000. Resurgent Financial Advisors LLC bought a new stake in Workday during the 4th quarter worth about $38,000. CI Investments Inc. grew its holdings in Workday by 975.0% during the 3rd quarter. CI Investments Inc. now owns 258 shares of the software maker's stock worth $39,000 after acquiring an additional 234 shares during the last quarter. Finally, TCI Wealth Advisors Inc. lifted its position in Workday by 1,168.4% during the 4th quarter. TCI Wealth Advisors Inc. now owns 241 shares of the software maker's stock valued at $40,000 after purchasing an additional 222 shares during the period. 66.98% of the stock is owned by institutional investors and hedge funds.
Workday Stock Performance
WDAY traded up $0.96 on Thursday, hitting $197.15. The company's stock had a trading volume of 3,774,452 shares, compared to its average volume of 1,925,047. The company's 50 day simple moving average is $189.75 and its 200-day simple moving average is $185.52. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.53. Workday, Inc. has a 12 month low of $128.72 and a 12 month high of $206.68. The firm has a market cap of $51.06 billion, a P/E ratio of -136.24, a price-to-earnings-growth ratio of 16.73 and a beta of 1.28.
Workday (NASDAQ:WDAY - Get Rating) last posted its quarterly earnings data on Monday, February 27th. The software maker reported $0.99 EPS for the quarter, topping the consensus estimate of $0.89 by $0.10. Workday had a negative net margin of 5.90% and a negative return on equity of 1.96%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. Workday's quarterly revenue was up 19.6% on a year-over-year basis. Analysts forecast that Workday, Inc. will post 0.45 EPS for the current year.
Insider Buying and Selling at Workday
In related news, insider Douglas A. Robinson sold 266 shares of the firm's stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $191.44, for a total value of $50,923.04. Following the transaction, the insider now owns 129,802 shares of the company's stock, valued at approximately $24,849,294.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Douglas A. Robinson sold 266 shares of Workday stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $191.44, for a total value of $50,923.04. Following the completion of the sale, the insider now directly owns 129,802 shares in the company, valued at approximately $24,849,294.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George J. Still, Jr. sold 5,000 shares of the company's stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $183.34, for a total transaction of $916,700.00. Following the completion of the sale, the director now directly owns 5,000 shares in the company, valued at $916,700. The disclosure for this sale can be found here. Insiders sold 43,469 shares of company stock worth $8,469,440 over the last 90 days. 21.09% of the stock is owned by insiders.
Wall Street Analyst Weigh In
WDAY has been the topic of a number of recent research reports. BNP Paribas upgraded shares of Workday from a "neutral" rating to an "outperform" rating and set a $235.00 price objective on the stock in a report on Wednesday. Societe Generale lowered shares of Workday from a "buy" rating to a "hold" rating and reduced their price target for the stock from $212.00 to $205.00 in a research report on Wednesday, March 1st. BMO Capital Markets increased their price target on shares of Workday from $195.00 to $205.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 28th. Robert W. Baird lowered their target price on shares of Workday from $223.00 to $220.00 and set an "outperform" rating for the company in a research note on Tuesday, February 28th. Finally, Bank of America boosted their price target on shares of Workday from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Wednesday, February 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $210.77.
About Workday
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Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A.
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