Caxton Associates LLP Cuts Position in Workday, Inc. $WDAY

Caxton Associates LLP decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 67.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,518 shares of the software maker’s stock after selling 9,357 shares during the quarter. Caxton Associates LLP’s holdings in Workday were worth $587,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WDAY. Rakuten Securities Inc. acquired a new position in Workday in the 2nd quarter worth $25,000. Measured Wealth Private Client Group LLC bought a new position in Workday during the 3rd quarter worth approximately $26,000. DT Investment Partners LLC acquired a new position in Workday in the fourth quarter worth $27,000. LRI Investments LLC acquired a new position in shares of Workday in the 4th quarter valued at about $29,000. Finally, JPL Wealth Management LLC bought a new position in shares of Workday during the third quarter valued at approximately $30,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Trading Up 9.0%

NASDAQ:WDAY opened at $147.54 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $36.44 billion, a P/E ratio of 46.11, a P/E/G ratio of 1.44 and a beta of 1.11. The stock’s 50 day moving average price is $133.51 and its 200 day moving average price is $140.92. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. Workday’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.23 EPS. On average, research analysts forecast that Workday, Inc. will post 5.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Monness Crespi & Hardt raised shares of Workday from a “neutral” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Thursday, June 25th. Summit Redstone set a $275.00 target price on Workday in a report on Wednesday, May 27th. The Goldman Sachs Group cut their price target on shares of Workday from $206.00 to $151.00 and set a “neutral” rating for the company in a report on Tuesday, May 26th. William Blair upgraded Workday to a “strong-buy” rating in a research report on Friday, May 22nd. Finally, Bank of America began coverage on shares of Workday in a report on Wednesday, May 27th. They issued a “neutral” rating and a $140.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $179.80.

Insider Activity at Workday

In other news, insider Gerrit S. Kazmaier sold 2,728 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total transaction of $391,795.36. Following the transaction, the insider owned 266,388 shares of the company’s stock, valued at approximately $38,258,644.56. This represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total value of $862,200.00. Following the sale, the chief financial officer directly owned 288,460 shares of the company’s stock, valued at $41,451,702. The trade was a 2.04% decrease in their position. 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 875,020 shares of company stock worth $113,938,503 in the last 90 days. Insiders own 18.64% of the company’s stock.

Workday 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.