Park Place Capital Corp Increases Position in Workday, Inc. (NASDAQ:WDAY)

Park Place Capital Corp boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 13.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 592 shares of the software maker’s stock after buying an additional 71 shares during the period. Park Place Capital Corp’s holdings in Workday were worth $153,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WDAY. The Manufacturers Life Insurance Company raised its position in Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after buying an additional 1,016,394 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of Workday by 1,094.2% during the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock worth $150,019,000 after acquiring an additional 562,400 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after purchasing an additional 480,459 shares during the period. Zurich Insurance Group Ltd FI bought a new position in shares of Workday during the 3rd quarter valued at approximately $78,003,000. Finally, Lindbrook Capital LLC boosted its position in shares of Workday by 17,001.6% in the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock worth $703,000 after purchasing an additional 284,266 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Insider Transactions at Workday

In other news, Director Wayne A.I. Frederick sold 1,829 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the transaction, the director now owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sayan Chakraborty sold 5,498 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the sale, the insider now directly owns 121,100 shares of the company’s stock, valued at approximately $30,369,458. This represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock valued at $113,142,592 over the last three months. Company insiders own 20.00% of the company’s stock.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $253.48 on Thursday. The company has a market cap of $67.43 billion, a PE ratio of 42.04, a P/E/G ratio of 4.53 and a beta of 1.34. The firm has a 50-day simple moving average of $261.72 and a 200 day simple moving average of $247.27. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same period last year, the firm earned $0.47 EPS. On average, sell-side analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Guggenheim raised shares of Workday from a “sell” rating to a “neutral” rating in a report on Monday, January 6th. Morgan Stanley upped their price objective on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Royal Bank of Canada raised their target price on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Piper Sandler restated a “neutral” rating and set a $270.00 price objective (down previously from $285.00) on shares of Workday in a report on Wednesday, November 27th. Finally, Oppenheimer reissued an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research report on Tuesday, December 3rd. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $292.25.

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.