Workday, Inc. (NASDAQ:WDAY) Holdings Lifted by Coalescence Partners Investment Management LP

Coalescence Partners Investment Management LP lifted its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 78.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 75,133 shares of the software maker's stock after purchasing an additional 32,952 shares during the quarter. Workday comprises approximately 7.3% of Coalescence Partners Investment Management LP's holdings, making the stock its 7th largest holding. Coalescence Partners Investment Management LP's holdings in Workday were worth $19,387,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WDAY. Marcum Wealth LLC grew its stake in shares of Workday by 4.4% in the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker's stock valued at $249,000 after buying an additional 41 shares in the last quarter. Custom Index Systems LLC grew its position in Workday by 3.0% in the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker's stock valued at $364,000 after acquiring an additional 41 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock valued at $35,000 after purchasing an additional 43 shares during the period. Kingsview Wealth Management LLC lifted its position in shares of Workday by 0.9% during the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker's stock worth $1,243,000 after purchasing an additional 43 shares in the last quarter. Finally, Fulton Bank N.A. boosted its stake in shares of Workday by 1.3% in the fourth quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker's stock valued at $954,000 after purchasing an additional 48 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

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Insider Transactions at Workday

In related news, CAO Mark S. Garfield sold 472 shares of the stock in a transaction on Monday, January 13th. The stock was 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 $8,789,681.92. This trade represents a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the sale, the chief executive officer now owns 13,972 shares in the company, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 435,829 shares of company stock valued at $113,033,319 in the last quarter. Insiders own 20.00% of the company's stock.

Workday Price Performance

WDAY traded down $0.63 during trading on Tuesday, reaching $242.38. The stock had a trading volume of 883,660 shares, compared to its average volume of 2,415,007. The stock has a 50 day moving average of $258.01 and a two-hundred day moving average of $256.02. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $64.47 billion, a price-to-earnings ratio of 40.31, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on WDAY. Piper Sandler lifted their price target on shares of Workday from $270.00 to $290.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. StockNews.com cut Workday from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Stifel Nicolaus raised their price objective on Workday from $270.00 to $310.00 and gave the company a "hold" rating in a research note on Wednesday, February 26th. BMO Capital Markets upped their target price on Workday from $300.00 to $314.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Finally, KeyCorp increased their target price on Workday from $305.00 to $335.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $302.14.

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.