Alta Park Capital LP Has $39.19 Million Holdings in Workday, Inc. (NASDAQ:WDAY)

Alta Park Capital LP grew its position in shares of Workday, Inc. (NASDAQ:WDAY) by 15.4% in the fourth quarter, Holdings Channel reports. The fund owned 141,973 shares of the software maker’s stock after buying an additional 18,922 shares during the quarter. Workday makes up about 4.0% of Alta Park Capital LP’s portfolio, making the stock its 9th biggest position. Alta Park Capital LP’s holdings in Workday were worth $39,193,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Beacon Capital Management LLC boosted its position in shares of Workday by 333.3% during the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after acquiring an additional 70 shares during the last quarter. VisionPoint Advisory Group LLC raised its holdings in Workday by 215.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after buying an additional 84 shares during the period. Clear Street Markets LLC purchased a new stake in Workday during the 3rd quarter valued at $29,000. Exchange Traded Concepts LLC raised its holdings in Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after buying an additional 105 shares during the period. Finally, CVA Family Office LLC purchased a new stake in Workday during the 4th quarter valued at $33,000. 89.81% of the stock is currently owned by institutional investors.

Workday Price Performance

Shares of NASDAQ:WDAY traded up $1.15 during trading on Tuesday, reaching $213.88. The stock had a trading volume of 658,568 shares, compared to its average volume of 2,195,504. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.00 and a current ratio of 2.00. The business has a fifty day moving average price of $246.41 and a 200-day moving average price of $268.10. The stock has a market cap of $56.68 billion, a PE ratio of 38.33, a PEG ratio of 6.53 and a beta of 1.33. Workday, Inc. has a 1-year low of $202.01 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share. On average, equities analysts forecast that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. KeyCorp decreased their price target on Workday from $330.00 to $275.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. Canaccord Genuity Group decreased their price target on Workday from $305.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, May 24th. JPMorgan Chase & Co. decreased their price target on Workday from $300.00 to $285.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. Jefferies Financial Group reduced their target price on Workday from $350.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Finally, Sanford C. Bernstein reduced their target price on Workday from $321.00 to $301.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus price target of $283.96.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $272.02, for a total value of $15,505,140.00. Following the transaction, the insider now owns 1,067,000 shares of the company’s stock, valued at approximately $290,245,340. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $276.95, for a total value of $15,509,200.00. Following the transaction, the insider now owns 1,011,000 shares of the company’s stock, valued at approximately $279,996,450. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $272.02, for a total value of $15,505,140.00. Following the completion of the transaction, the insider now directly owns 1,067,000 shares in the company, valued at approximately $290,245,340. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 513,042 shares of company stock valued at $133,424,815. Insiders own 20.00% of the company’s stock.

About Workday

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; 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.