Armistice Capital LLC Raises Holdings in Workday, Inc. $WDAY

Armistice Capital LLC grew its position in shares of Workday, Inc. (NASDAQ:WDAY) by 54.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 93,893 shares of the software maker’s stock after purchasing an additional 33,001 shares during the quarter. Armistice Capital LLC’s holdings in Workday were worth $20,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in WDAY. Brighton Jones LLC raised its stake in shares of Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after purchasing an additional 2,792 shares during the period. Empowered Funds LLC increased its stake in Workday by 12.1% in the 1st quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock worth $2,602,000 after acquiring an additional 1,206 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Workday by 211.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after purchasing an additional 127 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Workday in the 2nd quarter worth about $281,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of Workday by 32.0% in the 2nd quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker’s stock worth $1,583,000 after purchasing an additional 1,600 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Performance

WDAY stock opened at $121.83 on Thursday. The company has a market cap of $30.09 billion, a P/E ratio of 38.07, a price-to-earnings-growth ratio of 1.34 and a beta of 1.09. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s fifty day moving average price is $127.78 and its 200-day moving average price is $157.53.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The company’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the business posted $2.23 EPS. On average, equities analysts forecast that Workday, Inc. will post 5.4 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. KeyCorp increased their target price on Workday from $155.00 to $158.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Citizens Jmp cut Workday from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 18th. Robert W. Baird set a $195.00 target price on Workday in a research report on Tuesday, February 24th. Piper Sandler increased their target price on Workday from $135.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, May 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Workday in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $185.03.

Insider Buying and Selling

In related news, insider Robert Enslin sold 5,373 shares of Workday stock in a transaction on Monday, April 6th. The stock was sold at an average price of $129.41, for a total transaction of $695,319.93. Following the transaction, the insider directly owned 165,414 shares in the company, valued at approximately $21,406,225.74. The trade was a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gerrit S. Kazmaier sold 9,356 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total value of $1,201,216.84. Following the sale, the insider directly owned 165,074 shares in the company, valued at approximately $21,193,850.86. This represents a 5.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 774,814 shares of company stock valued at $102,272,866 over the last three months. 18.64% of the stock is currently owned by company insiders.

About Workday

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.