Bryce Point Capital LLC Invests $1.07 Million in Workday, Inc. (NASDAQ:WDAY)

Bryce Point Capital LLC acquired a new stake in Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,152 shares of the software maker’s stock, valued at approximately $1,071,000.

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

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.87, for a total value of $14,216,720.00. Following the transaction, the insider now directly owns 116,000 shares in the company, valued at approximately $29,448,920. The trade was a 32.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 429,316 shares of company stock worth $108,168,536. 20.00% of the stock is owned by insiders.

Workday Trading Up 0.4 %

NASDAQ WDAY opened at $235.39 on Thursday. The firm’s fifty day moving average price is $255.66 and its 200 day moving average price is $254.45. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market capitalization of $62.61 billion, a price-to-earnings ratio of 39.04, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. KeyCorp boosted their price target on shares of Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Daiwa America upgraded Workday to a “strong-buy” rating in a research note on Tuesday, March 4th. Canaccord Genuity Group lifted their price objective on Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. BMO Capital Markets increased their target price on Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group lifted their target price on Workday from $310.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $300.18.

Workday 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.