Delta Global Management LP Purchases 9,706 Shares of Workday, Inc. $WDAY

Delta Global Management LP increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 975.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,701 shares of the software maker’s stock after buying an additional 9,706 shares during the quarter. Delta Global Management LP’s holdings in Workday were worth $2,576,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDAY. First Eagle Investment Management LLC acquired a new stake in Workday in the 3rd quarter valued at $556,252,000. PKO Investment Management Joint Stock Co acquired a new position in shares of Workday during the 3rd quarter worth about $1,805,000. Phoenix Financial Ltd. acquired a new position in shares of Workday during the 3rd quarter worth about $2,000,000. Rakuten Investment Management Inc. bought a new position in shares of Workday in the 3rd quarter valued at about $124,718,000. Finally, Norges Bank bought a new position in shares of Workday in the 2nd quarter valued at about $442,702,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Loop Capital set a $210.00 target price on Workday in a report on Thursday. Wall Street Zen lowered Workday from a “buy” rating to a “hold” rating in a research report on Saturday. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of Workday in a research note on Monday, February 23rd. KeyCorp cut their price objective on Workday from $260.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Finally, The Goldman Sachs Group decreased their target price on shares of Workday from $238.00 to $206.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Twenty analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $203.00.

Insider Activity

In related news, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $208.75, for a total transaction of $1,252,500.00. Following the completion of the sale, the chief financial officer directly owned 159,158 shares in the company, valued at $33,224,232.50. This represents a 3.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Richard Harry Sauer sold 1,130 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $210.00, for a total transaction of $237,300.00. Following the completion of the transaction, the insider directly owned 85,398 shares of the company’s stock, valued at approximately $17,933,580. The trade was a 1.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 610,796 shares of company stock worth $107,013,566. 20.00% of the stock is owned by insiders.

Workday Stock Down 0.8%

Workday stock opened at $133.09 on Monday. The company’s 50-day moving average price is $164.66 and its two-hundred day moving average price is $205.82. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38. The stock has a market cap of $34.20 billion, a P/E ratio of 51.59, a P/E/G ratio of 1.29 and a beta of 1.17. Workday, Inc. has a twelve month low of $117.76 and a twelve month high of $276.00.

Workday (NASDAQ:WDAY) last issued 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. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a return on equity of 13.37% and a net margin of 7.26%.The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.92 earnings per share. As a group, analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Workday Company 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.