Bryce Point Capital LLC Takes Position in Workday, Inc. (NASDAQ:WDAY)

Bryce Point Capital LLC bought a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,152 shares of the software maker's stock, valued at approximately $1,071,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bristlecone Advisors LLC lifted its holdings in Workday by 49.6% in the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock worth $754,000 after purchasing an additional 968 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Workday by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker's stock worth $7,934,000 after buying an additional 1,978 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Workday by 20.5% during the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker's stock worth $182,753,000 after buying an additional 119,769 shares during the period. Burns Matteson Capital Management LLC bought a new stake in shares of Workday during the 4th quarter worth $369,000. Finally, Worldquant Millennium Advisors LLC grew its stake in Workday by 387.0% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 355,655 shares of the software maker's stock valued at $86,926,000 after buying an additional 282,632 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

Workday Price Performance

WDAY stock traded up $2.03 during midday trading on Tuesday, reaching $217.35. 1,206,052 shares of the company's stock traded hands, compared to its average volume of 2,570,063. The company has a 50-day simple moving average of $253.32 and a two-hundred day simple moving average of $253.90. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The company has a market cap of $57.82 billion, a price-to-earnings ratio of 36.06, a PEG ratio of 3.55 and a beta of 1.32.

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Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. On average, analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WDAY. The Goldman Sachs Group boosted their target price on shares of Workday from $310.00 to $345.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Needham & Company LLC restated a "buy" rating and set a $300.00 target price on shares of Workday in a research note on Monday, March 24th. Oppenheimer lifted their price target on Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Morgan Stanley cut Workday from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $330.00 to $275.00 in a research report on Wednesday, February 19th. Finally, Daiwa America raised shares of Workday to a "strong-buy" rating in a research report on Tuesday, March 4th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $300.18.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 70,090 shares of the business's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $26,215,826.41. The trade was a 40.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mark S. Garfield sold 472 shares of the firm's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now owns 35,408 shares in the company, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 366,514 shares of company stock worth $92,172,111 in the last quarter. Insiders own 20.00% of the company's stock.

Workday Company Profile

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.