Quadrature Capital Ltd Makes New Investment in Workday, Inc. (NASDAQ:WDAY)

Quadrature Capital Ltd bought a new stake in shares of Workday, Inc. (NASDAQ:WDAY) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 152,751 shares of the software maker’s stock, valued at approximately $42,167,000. Workday makes up approximately 0.8% of Quadrature Capital Ltd’s holdings, making the stock its 29th biggest holding.

A number of other institutional investors have also recently made changes to their positions in the business. Beacon Capital Management LLC raised its position in Workday by 333.3% during the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after purchasing an additional 70 shares during the period. 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. CVA Family Office LLC bought a new stake in Workday in the fourth quarter worth $33,000. VisionPoint Advisory Group LLC boosted its stake in Workday by 215.4% during the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after buying an additional 84 shares during the period. Finally, Clear Street Markets LLC purchased a new position in Workday during the third quarter worth $29,000. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ WDAY traded up $0.61 on Friday, reaching $215.56. 2,412,756 shares of the company’s stock traded hands, compared to its average volume of 3,715,735. The stock has a 50 day moving average price of $247.61 and a 200-day moving average price of $268.01. The firm has a market cap of $56.91 billion, a price-to-earnings ratio of 38.84, a P/E/G ratio of 6.53 and a beta of 1.33. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.00 and a current ratio of 2.00. Workday, Inc. has a fifty-two week low of $201.42 and a fifty-two week high of $311.28.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 earnings per share. Equities research analysts predict that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Insider Transactions at Workday

In other news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total transaction of $669,267.24. Following the sale, the insider now directly owns 204,066 shares of the company’s stock, valued at approximately $43,759,913.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total value of $669,267.24. Following the sale, the insider now owns 204,066 shares of the company’s stock, valued at approximately $43,759,913.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 82,762 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $210.28, for a total transaction of $17,403,193.36. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $21,658,209.16. The disclosure for this sale can be found here. Insiders have sold 518,042 shares of company stock valued at $134,777,415 in the last 90 days. 20.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

WDAY has been the subject of several analyst reports. Guggenheim restated a “sell” rating and issued a $190.00 target price on shares of Workday in a report on Friday, May 24th. Morgan Stanley dropped their target price on Workday from $330.00 to $325.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. TD Cowen reduced their price target on Workday from $330.00 to $290.00 and set a “buy” rating on the stock in a report on Friday, May 24th. JMP Securities restated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a report on Friday, May 24th. Finally, Sanford C. Bernstein cut their price objective on Workday from $321.00 to $301.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $283.96.

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.