Chicago Capital LLC Raises Stock Position in Workday, Inc. (NASDAQ:WDAY)

Chicago Capital LLC lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY – Get Rating) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 154,698 shares of the software maker’s stock after acquiring an additional 2,417 shares during the quarter. Workday makes up approximately 1.6% of Chicago Capital LLC’s holdings, making the stock its 27th biggest holding. Chicago Capital LLC owned about 0.06% of Workday worth $37,044,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Financial Management Professionals Inc. bought a new position in shares of Workday during the fourth quarter valued at approximately $27,000. Riverview Trust Co bought a new position in shares of Workday during the first quarter valued at approximately $27,000. Arlington Partners LLC bought a new position in shares of Workday during the fourth quarter valued at approximately $28,000. Vigilant Capital Management LLC bought a new position in shares of Workday during the first quarter valued at approximately $36,000. Finally, Fieldpoint Private Securities LLC bought a new position in shares of Workday during the first quarter valued at approximately $36,000. 70.64% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Richard Harry Sauer sold 5,022 shares of Workday stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $218.13, for a total value of $1,095,448.86. Following the sale, the insider now owns 64,623 shares in the company, valued at $14,096,214.99. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 102,500 shares of Workday stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $142.63, for a total transaction of $14,619,575.00. Following the completion of the sale, the insider now owns 205,000 shares in the company, valued at approximately $29,239,150. The disclosure for this sale can be found here. Insiders sold 144,977 shares of company stock valued at $23,706,521 in the last ninety days. 21.74% of the stock is owned by corporate insiders.

A number of equities analysts have recently issued reports on WDAY shares. JPMorgan Chase & Co. dropped their price objective on shares of Workday from $280.00 to $235.00 in a research note on Friday, May 27th. Stifel Nicolaus lowered their target price on shares of Workday from $275.00 to $220.00 in a research note on Friday, May 27th. BMO Capital Markets lowered their target price on shares of Workday from $249.00 to $239.00 in a research note on Friday, May 27th. Piper Sandler lowered their target price on shares of Workday from $360.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, May 27th. Finally, BNP Paribas downgraded shares of Workday from an “outperform” rating to a “neutral” rating and set a $230.00 target price for the company. in a research note on Tuesday, March 29th. Four investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $255.58.

WDAY opened at $142.35 on Friday. Workday, Inc. has a fifty-two week low of $134.53 and a fifty-two week high of $307.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.56 and a current ratio of 1.56. The company has a fifty day moving average of $166.07 and a two-hundred day moving average of $215.32. The stock has a market capitalization of $36.16 billion, a price-to-earnings ratio of -1,186.25 and a beta of 1.41.

Workday (NASDAQ:WDAY – Get Rating) last released its quarterly earnings data on Thursday, May 26th. The software maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). Workday had a negative net margin of 0.49% and a positive return on equity of 1.34%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the firm posted ($0.01) EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. On average, equities research analysts forecast that Workday, Inc. will post -0.66 earnings per share for the current year.

About Workday (Get Rating)

Workday, Inc provides enterprise cloud applications worldwide. 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; 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.

Further Reading