Long Path Partners LP Invests $12.14 Million in Workday, Inc. (NASDAQ:WDAY)

Long Path Partners LP acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 47,053 shares of the software maker’s stock, valued at approximately $12,141,000. Workday comprises about 3.9% of Long Path Partners LP’s holdings, making the stock its 8th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Roxbury Financial LLC acquired a new position in Workday during the fourth quarter worth approximately $25,000. Crews Bank & Trust purchased a new position in shares of Workday during the fourth quarter worth approximately $26,000. Avion Wealth increased its holdings in shares of 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 acquiring an additional 86 shares during the period. TCTC Holdings LLC purchased a new stake in Workday in the 4th quarter valued at $35,000. Finally, Rakuten Securities Inc. boosted its stake in Workday by 78.6% during the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock worth $39,000 after purchasing an additional 66 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Performance

Workday stock opened at $235.39 on Thursday. The company has a market cap 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, 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 stock’s 50-day moving average is $255.66 and its 200-day moving average is $254.45.

Workday (NASDAQ:WDAY) last posted its earnings results 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). Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Equities analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In related news, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction on Monday, January 13th. The shares were 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. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 429,316 shares of company stock valued at $108,168,536 over the last quarter. Company insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WDAY shares. Citigroup dropped their target price on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Daiwa America raised shares of Workday to a “strong-buy” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. upped their target price on Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Mizuho raised their price target on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Morgan Stanley downgraded shares of Workday from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.