Olympiad Research LP Purchases Shares of 1,907 Workday, Inc. (NASDAQ:WDAY)

Olympiad Research LP acquired a new stake in Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, HoldingsChannel reports. The fund acquired 1,907 shares of the software maker’s stock, valued at approximately $492,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of WDAY. Sequoia Financial Advisors LLC grew its position in shares of Workday by 13.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,561 shares of the software maker’s stock valued at $626,000 after acquiring an additional 295 shares during the period. International Assets Investment Management LLC grew its position in shares of Workday by 24,593.2% in the 3rd quarter. International Assets Investment Management LLC now owns 215,325 shares of the software maker’s stock valued at $52,628,000 after acquiring an additional 214,453 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in shares of Workday by 28.4% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 1,479 shares of the software maker’s stock valued at $361,000 after acquiring an additional 327 shares during the period. Dakota Wealth Management grew its position in shares of Workday by 16.3% in the 3rd quarter. Dakota Wealth Management now owns 4,091 shares of the software maker’s stock valued at $1,000,000 after acquiring an additional 573 shares during the period. Finally, Tectonic Advisors LLC grew its position in shares of Workday by 54.5% in the 3rd quarter. Tectonic Advisors LLC now owns 2,310 shares of the software maker’s stock valued at $565,000 after acquiring an additional 815 shares during the period. Institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WDAY shares. Scotiabank started coverage on shares of Workday in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective for the company. Loop Capital lifted their target price on shares of Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday. BNP Paribas raised shares of Workday to a “strong-buy” rating in a report on Friday, February 14th. Royal Bank of Canada lifted their target price on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Finally, Mizuho lifted their target price on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and an average price target of $291.11.

Insider Activity

In related news, insider Sayan Chakraborty sold 5,498 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the transaction, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. This represents a 4.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the transaction, the insider now owns 60,000 shares of the company’s stock, valued at approximately $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is currently owned by corporate insiders.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $256.39 on Friday. The firm has a 50 day moving average of $260.75 and a 200-day moving average of $253.16. The stock has a market capitalization of $68.20 billion, a PE ratio of 42.52, a PEG ratio of 3.55 and a beta of 1.35. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 EPS. On average, equities research analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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.