Caprock Group LLC Makes New Investment in Workday, Inc. $WDAY

Caprock Group LLC acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,185 shares of the software maker’s stock, valued at approximately $966,000.

Several other hedge funds have also made changes to their positions in WDAY. Rakuten Securities Inc. bought a new position in Workday during the second quarter valued at about $25,000. Berbice Capital Management LLC grew its holdings in shares of Workday by 136.4% during the 2nd quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock worth $31,000 after purchasing an additional 75 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Workday by 2,216.7% during the second quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock valued at $33,000 after purchasing an additional 133 shares during the period. Root Financial Partners LLC bought a new stake in shares of Workday during the third quarter valued at approximately $40,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of Workday in the second quarter valued at $41,000. Institutional investors own 89.81% of the company’s stock.

Workday Trading Up 0.3%

Shares of WDAY opened at $144.42 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83. The company has a market cap of $37.98 billion, a price-to-earnings ratio of 60.68, a PEG ratio of 1.23 and a beta of 1.14. The stock has a fifty day moving average price of $196.02 and a two-hundred day moving average price of $217.78. Workday, Inc. has a 52-week low of $140.59 and a 52-week high of $281.00.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, topping the consensus estimate of $2.17 by $0.15. Workday had a return on equity of 10.50% and a net margin of 6.95%.The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the prior year, the business earned $1.89 earnings per share. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. Analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Zacks Research downgraded shares of Workday from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. reduced their price objective on shares of Workday from $290.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Needham & Company LLC reissued a “buy” rating and issued a $300.00 target price on shares of Workday in a research note on Thursday, February 5th. Citizens Jmp reissued a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research report on Wednesday, November 26th. Finally, Wall Street Zen raised Workday from a “buy” rating to a “strong-buy” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $269.06.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 82,884 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $209.75, for a total value of $17,384,919.00. Following the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $22,034,027.75. This trade represents a 44.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction on Monday, January 5th. The shares were sold at an average price of $210.00, for a total value of $656,250.00. Following the completion of the sale, the chief executive officer directly owned 17,097 shares of the company’s stock, valued at $3,590,370. This trade represents a 15.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 370,321 shares of company stock valued at $78,866,401. Insiders own 20.00% of the company’s stock.

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.