Crescent Park Management L.P. Raises Stock Position in Workday, Inc. (NASDAQ:WDAY)

Crescent Park Management L.P. lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 1.3% during the second quarter, HoldingsChannel.com reports. The fund owned 51,593 shares of the software maker’s stock after buying an additional 642 shares during the quarter. Workday makes up approximately 3.4% of Crescent Park Management L.P.’s investment portfolio, making the stock its 13th biggest holding. Crescent Park Management L.P.’s holdings in Workday were worth $11,654,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of Workday during the first quarter worth approximately $25,000. Nemes Rush Group LLC purchased a new position in shares of Workday during the second quarter worth approximately $34,000. Manchester Capital Management LLC purchased a new position in shares of Workday during the first quarter worth approximately $34,000. First Manhattan CO. LLC. purchased a new position in shares of Workday during the first quarter worth approximately $37,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Workday during the second quarter worth approximately $508,000. 68.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In related news, CEO Aneel Bhusri sold 3,889 shares of the firm’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $205.41, for a total value of $798,839.49. Following the transaction, the chief executive officer now directly owns 550,004 shares of the company’s stock, valued at approximately $112,976,321.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, COO James Bozzini sold 4,925 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $205.41, for a total value of $1,011,644.25. Following the completion of the sale, the chief operating officer now directly owns 134,193 shares in the company, valued at $27,564,584.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Aneel Bhusri sold 3,889 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $205.41, for a total transaction of $798,839.49. Following the sale, the chief executive officer now directly owns 550,004 shares of the company’s stock, valued at approximately $112,976,321.64. The disclosure for this sale can be found here. Insiders sold 131,714 shares of company stock valued at $32,193,350 over the last 90 days. Corporate insiders own 21.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WDAY. Evercore ISI cut their price objective on shares of Workday from $275.00 to $265.00 in a report on Monday, October 2nd. Sanford C. Bernstein lifted their price objective on shares of Workday from $275.00 to $284.00 and gave the company an “outperform” rating in a report on Sunday, August 27th. StockNews.com began coverage on shares of Workday in a report on Thursday, October 5th. They set a “buy” rating on the stock. Oppenheimer reissued an “outperform” rating and set a $255.00 price objective on shares of Workday in a report on Thursday, September 28th. Finally, Barclays cut their price objective on shares of Workday from $262.00 to $249.00 and set an “overweight” rating on the stock in a report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.88.

Workday Stock Performance

Shares of NASDAQ WDAY traded down $0.54 during midday trading on Tuesday, reaching $236.48. 318,401 shares of the stock were exchanged, compared to its average volume of 1,882,289. The firm has a market cap of $61.96 billion, a price-to-earnings ratio of -493.79, a PEG ratio of 7.67 and a beta of 1.25. Workday, Inc. has a twelve month low of $141.22 and a twelve month high of $252.72. The firm has a 50-day simple moving average of $222.15 and a two-hundred day simple moving average of $222.33. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.47.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 24th. The software maker reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.17. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.77 billion. Workday had a positive return on equity of 2.09% and a negative net margin of 1.81%. The business’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.16) EPS. As a group, analysts anticipate that Workday, Inc. will post 1.13 EPS for the current fiscal year.

About Workday

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, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers 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.