Catalyst Capital Advisors LLC Grows Stake in Workday, Inc. (NASDAQ:WDAY)

Catalyst Capital Advisors LLC increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 222.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 526 shares of the software maker’s stock after buying an additional 363 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Workday were worth $136,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Claro Advisors LLC acquired a new stake in shares of Workday in the 3rd quarter valued at approximately $255,000. Blue Trust Inc. grew its position in shares of Workday by 84.6% in the third quarter. Blue Trust Inc. now owns 3,066 shares of the software maker’s stock valued at $685,000 after purchasing an additional 1,405 shares during the period. Raymond James & Associates grew its position in Workday by 10.1% during the third quarter. Raymond James & Associates now owns 509,513 shares of the software maker’s stock valued at $124,530,000 after acquiring an additional 46,651 shares during the period. New Century Financial Group LLC lifted its stake in shares of Workday by 5.0% during the third quarter. New Century Financial Group LLC now owns 1,246 shares of the software maker’s stock worth $305,000 after purchasing an additional 59 shares in the last quarter. Finally, Bellecapital International Ltd. acquired a new position in shares of Workday during the third quarter worth about $211,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on WDAY shares. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price target on shares of Workday in a research note on Thursday, February 6th. Barclays cut their price target on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Morgan Stanley boosted their price objective on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Wells Fargo & Company boosted their price objective on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Piper Sandler reissued a “neutral” rating and issued a $270.00 price objective (down from $285.00) on shares of Workday in a report on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $292.43.

Workday Price Performance

WDAY opened at $258.05 on Tuesday. The company has a fifty day moving average price of $262.13 and a two-hundred day moving average price of $251.80. The firm has a market capitalization of $68.64 billion, a PE ratio of 42.79, a P/E/G ratio of 3.78 and a beta of 1.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

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

Insiders Place Their Bets

In other Workday news, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the completion of the sale, the director now directly owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. The trade was a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the transaction, the insider now owns 60,000 shares of the company’s stock, valued at $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 438,819 shares of company stock worth $113,142,592 in the last quarter. Corporate insiders own 20.00% of the company’s stock.

Workday Company 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.