Delta Global Management LP Has $2.58 Million Stock Position in Workday, Inc. $WDAY

Delta Global Management LP boosted its stake in Workday, Inc. (NASDAQ:WDAY) by 975.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,701 shares of the software maker’s stock after acquiring an additional 9,706 shares during the period. Delta Global Management LP’s holdings in Workday were worth $2,576,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Eagle Investment Management LLC bought a new stake in Workday during the third quarter valued at $556,252,000. Hotchkis & Wiley Capital Management LLC raised its position in shares of Workday by 47.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock worth $1,406,463,000 after acquiring an additional 1,882,391 shares in the last quarter. Norges Bank bought a new stake in shares of Workday in the 2nd quarter valued at $442,702,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Workday by 41.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,761,599 shares of the software maker’s stock valued at $905,530,000 after buying an additional 1,103,421 shares during the period. Finally, Generation Investment Management LLP increased its position in Workday by 50.4% in the 3rd quarter. Generation Investment Management LLP now owns 3,087,395 shares of the software maker’s stock valued at $743,229,000 after buying an additional 1,034,589 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 107,500 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $142.18, for a total transaction of $15,284,350.00. Following the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $14,935,866.82. This represents a 50.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gerrit S. Kazmaier sold 3,759 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $208.73, for a total value of $784,616.07. Following the transaction, the insider directly owned 105,167 shares in the company, valued at approximately $21,951,507.91. This represents a 3.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 610,796 shares of company stock valued at $107,013,566. 20.00% of the stock is currently owned by company insiders.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $133.09 on Monday. The company’s fifty day moving average price is $164.66 and its 200-day moving average price is $205.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market capitalization of $34.20 billion, a price-to-earnings ratio of 51.59, a PEG ratio of 1.29 and a beta of 1.17. Workday, Inc. has a one year low of $117.76 and a one year high of $276.00.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.15. Workday had a net margin of 7.26% and a return on equity of 13.37%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm posted $1.92 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on WDAY. Jefferies Financial Group cut shares of Workday from a “buy” rating to a “hold” rating and dropped their price target for the company from $325.00 to $150.00 in a research report on Monday, February 23rd. Citizens Jmp lowered Workday from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 18th. BMO Capital Markets reduced their target price on shares of Workday from $204.00 to $182.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Wells Fargo & Company cut their price target on Workday from $255.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Finally, Loop Capital set a $210.00 price objective on shares of Workday in a report on Thursday. Twenty research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $203.00.

Workday Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.