Old Well Partners LLC Takes Position in Workday, Inc. (NASDAQ:WDAY)

Old Well Partners LLC bought a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,000 shares of the software maker's stock, valued at approximately $1,806,000. Workday accounts for about 3.4% of Old Well Partners LLC's investment portfolio, making the stock its 11th biggest holding.

A number of other institutional investors have also modified their holdings of the company. Bristlecone Advisors LLC boosted its position in Workday by 49.6% during the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock valued at $754,000 after purchasing an additional 968 shares during the period. Burns Matteson Capital Management LLC bought a new stake in Workday during the 4th quarter worth approximately $369,000. Smith Group Asset Management LLC increased its stake in shares of Workday by 9.4% during the 4th quarter. Smith Group Asset Management LLC now owns 109,013 shares of the software maker's stock worth $28,129,000 after purchasing an additional 9,324 shares during the last quarter. Swedbank AB grew its holdings in Workday by 17.7% in the 4th 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 in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Workday in the 4th quarter valued at approximately $8,984,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of research analyst reports. Needham & Company LLC restated a "buy" rating and issued a $300.00 target price on shares of Workday in a research note on Monday, March 24th. KeyCorp lifted their target price on shares of Workday from $305.00 to $335.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Loop Capital increased their price target on shares of Workday from $242.00 to $260.00 and gave the stock a "hold" rating in a research report on Wednesday, February 19th. Piper Sandler dropped their price objective on shares of Workday from $290.00 to $230.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Finally, Oppenheimer increased their price objective on Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $293.62.

Insider Activity

In other news, CAO Mark S. Garfield sold 497 shares of the company'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 transaction of $112,595.35. Following the sale, the chief accounting officer now owns 34,385 shares in the company, valued at $7,789,921.75. This represents a 1.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sayan Chakraborty sold 6,056 shares of the business's stock in a transaction dated 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 completion of the sale, the insider now directly owns 111,324 shares of the company's stock, valued at $29,556,522. This represents a 5.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 321,724 shares of company stock valued at $77,976,126. Company insiders own 19.31% of the company's stock.

Workday Stock Performance

NASDAQ WDAY opened at $266.57 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a 50-day simple moving average of $238.63 and a two-hundred day simple moving average of $252.53. The firm has a market capitalization of $70.91 billion, a P/E ratio of 44.21, a PEG ratio of 3.55 and a beta of 1.30. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00.

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

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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