Point72 Hong Kong Ltd Has $977,000 Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Point72 Hong Kong Ltd grew its stake in Workday, Inc. (NASDAQ:WDAY) by 20.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,997 shares of the software maker’s stock after purchasing an additional 683 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Workday were worth $977,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its stake in Workday by 79.1% in the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after buying an additional 1,016,394 shares during the period. Van ECK Associates Corp raised its position in shares of Workday by 17,345.2% in the 2nd quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock valued at $208,068,000 after acquiring an additional 925,366 shares during the period. D1 Capital Partners L.P. boosted its stake in Workday by 152.1% during the 2nd quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock worth $115,804,000 after acquiring an additional 312,500 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Workday by 17,001.6% during the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock valued at $703,000 after purchasing an additional 284,266 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Workday by 24,593.2% in the third quarter. International Assets Investment Management LLC now owns 215,325 shares of the software maker’s stock valued at $52,628,000 after purchasing an additional 214,453 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The trade was a 39.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Wayne A.I. Frederick sold 1,828 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the transaction, the director now owns 8,674 shares in the company, valued at approximately $2,097,806.90. This trade represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 359,954 shares of company stock worth $88,742,132. Company insiders own 20.00% of the company’s stock.

Workday Stock Down 1.3 %

Workday stock opened at $249.99 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The company’s 50-day moving average is $248.77 and its 200-day moving average is $237.30. The firm has a market capitalization of $66.25 billion, a PE ratio of 41.46, a P/E/G ratio of 4.96 and a beta of 1.35. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.21% and a net margin of 19.86%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the business earned $0.47 earnings per share. The business’s revenue was up 15.8% compared to the same quarter last year. Sell-side analysts anticipate that Workday, Inc. will post 2.4 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on the company. Piper Sandler reaffirmed a “neutral” rating and set a $270.00 price objective (down previously from $285.00) on shares of Workday in a research note on Wednesday, November 27th. StockNews.com lowered Workday from a “buy” rating to a “hold” rating in a research report on Thursday. Citigroup decreased their price objective on Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Loop Capital reduced their price target on shares of Workday from $270.00 to $242.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. Finally, JMP Securities restated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and an average target price of $288.14.

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.