Workday, Inc. (NASDAQ:WDAY) is HMI Capital Management L.P.'s 7th Largest Position

HMI Capital Management L.P. boosted its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 10.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 747,085 shares of the software maker's stock after acquiring an additional 69,050 shares during the quarter. Workday accounts for approximately 9.7% of HMI Capital Management L.P.'s investment portfolio, making the stock its 7th biggest position. HMI Capital Management L.P. owned 0.28% of Workday worth $192,770,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in Workday during the fourth quarter worth approximately $658,735,000. Norges Bank purchased a new stake in Workday during the fourth quarter worth approximately $645,710,000. Parnassus Investments LLC lifted its stake in Workday by 562.2% during the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock worth $631,589,000 after purchasing an additional 2,078,097 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock worth $1,193,105,000 after purchasing an additional 1,772,223 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WDAY has been the subject of several recent analyst reports. Oppenheimer boosted their target price on Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Piper Sandler cut their price target on Workday from $290.00 to $230.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Royal Bank of Canada lifted their price target on Workday from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Redburn Atlantic assumed coverage on Workday in a research report on Wednesday, February 19th. They set a "neutral" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised Workday from a "hold" rating to a "buy" rating and lifted their price target for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $292.86.

Workday Trading Down 0.6 %

Shares of NASDAQ WDAY traded down $1.42 during midday trading on Wednesday, reaching $241.97. 497,588 shares of the stock were exchanged, compared to its average volume of 2,609,018. The company has a market capitalization of $64.36 billion, a P/E ratio of 40.13, a P/E/G ratio of 3.55 and a beta of 1.32. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. 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 stock has a 50 day moving average price of $239.94 and a 200-day moving average price of $251.83.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) 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 company had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.18 billion. Equities research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, CAO Mark S. Garfield sold 497 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the completion of the sale, the chief accounting officer now directly owns 34,385 shares in the company, valued at approximately $7,789,921.75. The trade was a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 81,275 shares of Workday stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. Over the last three months, insiders sold 321,724 shares of company stock worth $77,976,126. 20.00% of the stock is owned by company insiders.

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.