Farringdon Capital Ltd. Acquires Shares of 2,378 Workday, Inc. (NASDAQ:WDAY)

Farringdon Capital Ltd. bought a new position in Workday, Inc. (NASDAQ:WDAY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,378 shares of the software maker’s stock, valued at approximately $614,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after buying an additional 4,517,272 shares during the last quarter. Norges Bank purchased a new position in shares of Workday in the fourth quarter valued at $645,710,000. Parnassus Investments LLC increased its position in Workday by 562.2% in the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after purchasing an additional 2,078,097 shares during the last quarter. Geode Capital Management LLC lifted its position in Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock valued at $1,193,105,000 after purchasing an additional 1,772,223 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Workday by 102.6% in the 4th quarter. Invesco Ltd. now owns 1,855,778 shares of the software maker’s stock worth $478,846,000 after buying an additional 939,955 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. BMO Capital Markets boosted their price objective on Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Piper Sandler raised their price target on Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Guggenheim reiterated a “neutral” rating on shares of Workday in a research report on Wednesday, February 26th. Jefferies Financial Group cut their price target on shares of Workday from $350.00 to $325.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, Scotiabank dropped their target price on Workday from $355.00 to $305.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $296.25.

Workday Price Performance

WDAY opened at $227.71 on Thursday. The firm has a market capitalization of $60.57 billion, a PE ratio of 37.76, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32. The business’s 50-day moving average is $245.82 and its two-hundred day moving average is $252.48. Workday, Inc. has a 1 year low of $199.81 and a 1 year 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.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Sayan Chakraborty sold 6,056 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the transaction, the insider now owns 111,324 shares in the company, valued at $29,556,522. This represents a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 497 shares of the business’s stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the sale, the chief accounting officer now directly owns 34,385 shares in the company, valued at approximately $7,789,921.75. This represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 321,724 shares of company stock worth $77,976,126. Insiders own 20.00% of the company’s stock.

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.