M3 Advisory Group LLC Acquires New Position in Workday, Inc. (NASDAQ:WDAY)

M3 Advisory Group LLC bought a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 778 shares of the software maker’s stock, valued at approximately $201,000.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of Workday by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 226,117 shares of the software maker’s stock worth $50,552,000 after purchasing an additional 22,290 shares during the period. MBB Public Markets I LLC boosted its stake in Workday by 781.8% during the second quarter. MBB Public Markets I LLC now owns 15,026 shares of the software maker’s stock worth $3,359,000 after buying an additional 13,322 shares during the period. Maverick Capital Ltd. purchased a new position in Workday during the second quarter worth about $1,205,000. Legal & General Group Plc raised its stake in shares of Workday by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after acquiring an additional 118,180 shares during the period. Finally, Sepio Capital LP lifted its holdings in shares of Workday by 4.6% in the 2nd quarter. Sepio Capital LP now owns 4,772 shares of the software maker’s stock worth $1,067,000 after acquiring an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY opened at $258.28 on Friday. The company’s 50 day simple moving average is $260.91 and its 200-day simple moving average is $247.59. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The firm has a market cap of $68.70 billion, a PE ratio of 42.83, a price-to-earnings-growth ratio of 4.58 and a beta of 1.34. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the business posted $0.47 earnings per share. Workday’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, equities analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 70,090 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total value of $17,840,007.70. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $26,215,826.41. This trade represents a 40.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sayan Chakraborty sold 5,498 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the transaction, the insider now owns 121,100 shares in the company, valued at approximately $30,369,458. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Piper Sandler reissued a “neutral” rating and issued a $270.00 target price (down previously from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Barclays cut their price objective on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Loop Capital lowered their target price on Workday from $270.00 to $242.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. Guggenheim upgraded shares of Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Monday, November 25th. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.25.

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.