Sycomore Asset Management Grows Position in Workday, Inc. (NASDAQ:WDAY)

Sycomore Asset Management grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 46.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,189 shares of the software maker's stock after purchasing an additional 31,050 shares during the period. Workday comprises about 3.0% of Sycomore Asset Management's portfolio, making the stock its 7th biggest position. Sycomore Asset Management's holdings in Workday were worth $24,099,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC grew its holdings in Workday by 24.8% during the 3rd quarter. CWM LLC now owns 7,800 shares of the software maker's stock worth $1,907,000 after acquiring an additional 1,549 shares in the last quarter. Wedmont Private Capital boosted its holdings in Workday by 5.4% in the third quarter. Wedmont Private Capital now owns 1,171 shares of the software maker's stock valued at $276,000 after purchasing an additional 60 shares in the last quarter. UMB Bank n.a. boosted its holdings in Workday by 6.0% in the third quarter. UMB Bank n.a. now owns 956 shares of the software maker's stock valued at $234,000 after purchasing an additional 54 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of Workday by 43.2% in the 3rd quarter. Valeo Financial Advisors LLC now owns 1,757 shares of the software maker's stock valued at $429,000 after buying an additional 530 shares in the last quarter. Finally, Perfromance Wealth Partners LLC purchased a new position in shares of Workday in the 3rd quarter valued at $244,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Workday Stock Performance

NASDAQ WDAY traded down $6.85 on Tuesday, hitting $263.03. The stock had a trading volume of 1,306,084 shares, compared to its average volume of 2,040,580. The company's 50-day moving average is $262.45 and its two-hundred day moving average is $250.89. The stock has a market cap of $69.97 billion, a price-to-earnings ratio of 43.63, a P/E/G ratio of 3.78 and a beta of 1.35. 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 one year low of $199.81 and a one year high of $311.28.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company's quarterly revenue was up 15.8% compared to the same quarter last year. On average, analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. StockNews.com downgraded shares of Workday from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised Workday from a "hold" rating to a "buy" rating and upped their target price for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Guggenheim raised Workday from a "sell" rating to a "neutral" rating in a research report on Monday, January 6th. Barclays decreased their price objective on Workday from $314.00 to $305.00 and set an "overweight" rating for the company in a report on Wednesday, November 27th. Finally, The Goldman Sachs Group upped their price target on shares of Workday from $300.00 to $310.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $292.43.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 70,090 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total value 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. This represents a 40.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction on Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the sale, the insider now directly owns 121,100 shares of the company's stock, valued at approximately $30,369,458. The trade was a 4.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 438,819 shares of company stock worth $113,142,592. Company insiders own 20.00% of the company's stock.

About Workday

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.