Balyasny Asset Management LLC Acquires 318,523 Shares of Workday, Inc. (WDAY)
Balyasny Asset Management LLC grew its holdings in shares of Workday, Inc. (NYSE:WDAY) by 492.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 383,164 shares of the software maker’s stock after buying an additional 318,523 shares during the quarter. Balyasny Asset Management LLC owned 0.19% of Workday worth $37,167,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in WDAY. Renaissance Technologies LLC purchased a new stake in Workday in the 2nd quarter worth about $117,209,000. Vanguard Group Inc. raised its position in Workday by 8.5% in the 2nd quarter. Vanguard Group Inc. now owns 10,782,861 shares of the software maker’s stock worth $1,045,937,000 after purchasing an additional 846,809 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Workday by 2,792.9% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 391,700 shares of the software maker’s stock worth $32,621,000 after purchasing an additional 378,160 shares during the period. AO Asset Management LLC purchased a new stake in Workday in the 2nd quarter worth about $26,306,000. Finally, State Street Corp raised its position in Workday by 10.6% in the 1st quarter. State Street Corp now owns 2,288,030 shares of the software maker’s stock worth $190,552,000 after purchasing an additional 219,326 shares during the period. Hedge funds and other institutional investors own 67.08% of the company’s stock.
Workday, Inc. (NYSE:WDAY) traded up 3.48% during midday trading on Friday, hitting $105.39. 2,193,267 shares of the stock traded hands. Workday, Inc. has a one year low of $65.79 and a one year high of $111.45. The company has a 50-day moving average price of $104.37 and a 200 day moving average price of $95.86. The stock’s market cap is $21.92 billion.
Workday (NYSE:WDAY) last issued its earnings results on Wednesday, August 30th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.09. Workday had a negative net margin of 19.78% and a negative return on equity of 24.07%. The business had revenue of $525.30 million during the quarter, compared to analysts’ expectations of $507.44 million. During the same quarter in the prior year, the business posted ($0.04) EPS. The company’s revenue for the quarter was up 40.6% on a year-over-year basis. Equities research analysts anticipate that Workday, Inc. will post $0.83 earnings per share for the current year.
A number of analysts recently weighed in on the stock. UBS AG reissued a “buy” rating and issued a $115.00 price objective (up from $103.00) on shares of Workday in a research report on Friday, June 2nd. Mitsubishi UFJ Financial Group set a $106.00 price objective on shares of Workday and gave the stock a “buy” rating in a research report on Saturday, June 3rd. Cowen and Company reissued a “market perform” rating and issued a $100.00 price objective (up from $93.00) on shares of Workday in a research report on Thursday, August 31st. ValuEngine raised shares of Workday from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Wedbush reissued a “neutral” rating and issued a $104.00 price objective on shares of Workday in a research report on Thursday, August 31st. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $99.06.
In other news, Director David A. Duffield sold 268,454 shares of the company’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $97.20, for a total value of $26,093,728.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Aneel Bhusri sold 11,091 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $102.70, for a total transaction of $1,139,045.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,347,149 shares of company stock valued at $138,624,761. Company insiders own 37.71% of the company’s stock.
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Workday, Inc is a provider of enterprise cloud applications for finance and human resources. The Company delivers financial management, human capital management and analytics applications designed for various companies, educational institutions and government agencies. As part of its applications, the Company provides embedded analytics that capture the content and context of everyday business events, facilitating informed decision-making from wherever users are working.
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