Figure 8 Investment Strategies LLC Invests $1 Million in Workday, Inc. $WDAY

Figure 8 Investment Strategies LLC purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,655 shares of the software maker’s stock, valued at approximately $1,000,000.

Several other institutional investors have also added to or reduced their stakes in WDAY. Rakuten Securities Inc. bought a new stake in Workday in the 2nd quarter worth approximately $25,000. Measured Wealth Private Client Group LLC bought a new position in shares of Workday during the 3rd quarter valued at approximately $26,000. JPL Wealth Management LLC purchased a new position in shares of Workday in the third quarter valued at $30,000. eCIO Inc. purchased a new position in shares of Workday in the fourth quarter valued at $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Workday in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of recent research reports. BMO Capital Markets decreased their price target on shares of Workday from $204.00 to $182.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Citigroup reduced their target price on shares of Workday from $247.00 to $148.00 and set a “neutral” rating on the stock in a report on Thursday, February 26th. UBS Group decreased their target price on shares of Workday from $170.00 to $130.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Morgan Stanley lowered their price target on shares of Workday from $280.00 to $200.00 and set an “equal weight” rating for the company in a report on Monday, February 23rd. Finally, Evercore lowered Workday from an “outperform” rating to an “in-line” rating and set a $160.00 price target for the company. in a research report on Wednesday, February 25th. Nineteen analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and a consensus target price of $199.71.

Insider Buying and Selling at Workday

In related news, insider Gerrit S. Kazmaier sold 3,759 shares of the business’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $208.73, for a total transaction of $784,616.07. Following the completion of the transaction, the insider owned 105,167 shares in the company, valued at $21,951,507.91. The trade was a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 107,500 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $136.82, for a total value of $14,708,150.00. Following the completion of the transaction, the insider directly owned 105,049 shares in the company, valued at $14,372,804.18. This trade represents a 50.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 847,226 shares of company stock worth $122,582,821 over the last 90 days. Company insiders own 19.31% of the company’s stock.

Workday Stock Performance

WDAY stock opened at $132.26 on Monday. The firm’s fifty day simple moving average is $144.85 and its two-hundred day simple moving average is $195.52. The stock has a market capitalization of $33.99 billion, a price-to-earnings ratio of 51.26, a price-to-earnings-growth ratio of 1.28 and a beta of 1.14. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38. Workday, Inc. has a twelve month low of $117.76 and a twelve month high of $276.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, beating the consensus estimate of $2.32 by $0.15. Workday had a net margin of 7.26% and a return on equity of 13.37%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the firm posted $1.92 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. As a group, analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

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.