Deepwater Asset Management LLC Invests $12.82 Million in Workday, Inc. $WDAY

Deepwater Asset Management LLC purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 53,236 shares of the software maker’s stock, valued at approximately $12,816,000. Workday comprises about 5.1% of Deepwater Asset Management LLC’s holdings, making the stock its 8th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WDAY. Rakuten Securities Inc. bought a new stake in shares of Workday during the 2nd quarter valued at $25,000. Berbice Capital Management LLC grew its stake in shares of Workday by 136.4% during the second quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock worth $31,000 after purchasing an additional 75 shares during the period. Golden State Wealth Management LLC increased its holdings in Workday by 2,216.7% in the second quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock valued at $33,000 after purchasing an additional 133 shares during the last quarter. Root Financial Partners LLC acquired a new position in Workday in the third quarter valued at about $40,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Workday during the second quarter worth about $41,000. 89.81% of the stock is owned by institutional investors.

Workday News Roundup

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Workday expanded its HR partner ecosystem — adding HR Acuity and launching a joint solution with Insperity (Insperity HRScale) — which can boost adoption among small/mid-size employers and strengthen HCM stickiness. HR Acuity Joins the Workday Innovation Partner Program
• Positive Sentiment: Positive industry commentary from Sequoia partner Alfred Lin — saying software remains an attractive area to invest despite AI-driven fears — lifts sentiment for large SaaS names like Workday that sell mission‑critical HR/finance platforms. Why Sequoia’s Alfred Lin isn’t worried about the SaaS-pocalypse
• Positive Sentiment: Market commentary debating whether Workday marked a bottom for the SaaS group has likely encouraged buyers looking for cyclical recovery plays in enterprise software. Did Workday Help Signal the SaaS Bottom?
• Neutral Sentiment: Wall Street analyst coverage and “average brokerage recommendation” stories (and Zacks pieces) are keeping attention on WDAY; analyst optimism can amplify intraday moves but is often noisy and may already be priced in. Is It Worth Investing in Workday (WDAY) Based on Wall Street’s Bullish Views? Zacks: Is It Worth Investing in Workday?
• Negative Sentiment: A Seeking Alpha piece lowered its fair‑value estimate and argues Workday’s fundamentals don’t justify current multiples, echoing valuation concerns (WDAY trades with a high P/E and remains below its 50/200‑day moving averages), which can cap upside if sentiment shifts. Workday: I’m Lowering My Fair Value Estimate…

Workday Trading Up 7.2%

Shares of NASDAQ:WDAY opened at $143.61 on Wednesday. The firm has a market cap of $37.77 billion, a price-to-earnings ratio of 55.66, a PEG ratio of 1.31 and a beta of 1.16. Workday, Inc. has a 12 month low of $117.76 and a 12 month high of $276.00. The company’s fifty day simple moving average is $176.41 and its 200 day simple moving average is $210.59. The company has a quick ratio of 1.83, a current ratio of 1.32 and a debt-to-equity ratio of 0.38.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.15. Workday had a net margin of 7.26% and a return on equity of 13.37%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the business earned $1.92 EPS. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, research analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 82,884 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $209.75, for a total transaction of $17,384,919.00. Following the completion of the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at $22,034,027.75. This trade represents a 44.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Enslin sold 22,185 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $210.17, for a total transaction of $4,662,621.45. Following the completion of the sale, the insider directly owned 106,330 shares in the company, valued at approximately $22,347,376.10. This represents a 17.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 288,296 shares of company stock valued at $61,461,516 in the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price target on Workday from $270.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, February 24th. DA Davidson lowered their target price on shares of Workday from $250.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Citizens Jmp lowered shares of Workday from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 18th. Robert W. Baird set a $195.00 price target on shares of Workday in a report on Tuesday, February 24th. Finally, The Goldman Sachs Group lowered their price objective on shares of Workday from $238.00 to $206.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Twenty investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and an average price target of $205.19.

Workday Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.