22,910 Shares in Workday, Inc. (NASDAQ:WDAY) Bought by Sone Capital Management LLC

Sone Capital Management LLC purchased a new stake in Workday, Inc. (NASDAQ:WDAY) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 22,910 shares of the software maker’s stock, valued at approximately $5,911,000.

A number of other hedge funds have also added to or reduced their stakes in WDAY. Roxbury Financial LLC bought a new stake in shares of Workday during the 4th quarter valued at about $25,000. Crews Bank & Trust purchased a new stake in Workday in the fourth quarter worth about $26,000. Avion Wealth boosted its position in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares in the last quarter. TCTC Holdings LLC purchased a new position in shares of Workday during the 4th quarter worth approximately $35,000. Finally, Rakuten Securities Inc. raised its position in shares of Workday by 78.6% in the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock worth $39,000 after acquiring an additional 66 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on WDAY shares. JPMorgan Chase & Co. lifted their price target on Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. DA Davidson dropped their target price on shares of Workday from $270.00 to $230.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Wells Fargo & Company reduced their target price on shares of Workday from $360.00 to $325.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a research note on Friday, February 14th. Finally, BMO Capital Markets boosted their price objective on shares of Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $293.62.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 66,455 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $26,729,781.44. The trade was a 39.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sayan Chakraborty sold 6,056 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the sale, the insider now owns 111,324 shares in the company, valued at approximately $29,556,522. The trade was a 5.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 321,724 shares of company stock worth $77,976,126. 19.31% of the stock is owned by company insiders.

Workday Stock Performance

WDAY stock opened at $273.05 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. 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 $72.63 billion, a P/E ratio of 45.28, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30. The stock’s fifty day moving average price is $240.57 and its 200-day moving average price is $253.53.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. On average, equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current 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.