Lone Pine Capital's legendary hedge fund investor
increased his position in software company Workday Inc. (
) by 259.24%, as of April 22, 2013, buying at an average price of
$58.71 per share. After the trade,
owns 3,522,285 WDAY shares, making an impact of 0.93% on his
equity portfolio. Mandel's holding history shows that he first
bought 980,494 shares at an average price of $51.2 with a gain of
14% in fourth quarter 2012.
His holding history:
Workday Inc. executive insiders sold shares this month:
Workday Inc. develops cloud-based applications and is among the
first software developers to build global functionality into
enterprise management software. Workday software products are
used in approximately 219 countries for management of human
resources, financials, and payroll.
Up 19% over 12 months, Workday Inc. (
) is currently trading at $58.89, with a market cap of $9.48
billion, up from $1.14 billion, reported in October 2012 before
Workday had completed an initial public offering of common stock
resulting in net proceeds of around $684.6 million. Expanding
internationally to large clients, Workday's two largest clients
are organizations of 200,000 and 300,000 people, respectively.
The company has a P/B ratio of 16.4 and a P/S ratio of 15.7233.
GuruFocus has conducted a thorough checkup on the financials and
performance of the company and found one warning sign, that the
WDAY price of $58.89 is close to a one-year high of $63.16.
For fiscal year 2013 the company reported an increase of revenues
by 103.6%, up from $134.4 million to $273.7 million.
Additionally, the not-yet invoiced subscription-based software
contracts represent a "backlog" of $434 million as of Jan. 31,
2013, and are not yet recorded as revenues. The company has an
operating loss of $117,863 for the year ended January 2013, and
an operating loss of $78,444 for the year ended January 2012.
data by GuruFocus.com
Underscoring the rapidly evolving market and high levels of
competition, the company provided aggressive software maintenance
in the last year, releasing three new software updates with
hundreds of new features.
Workday Inc.'s Co-Founder and CO-CEO Dave Duffield, alongside
Aneel Bhusri, explained that his product's global functionality
was all together new when he began the company in 2005: "When
enterprise software emerged decades ago, the concept of global
business had not yet evolved. Businesses were siloed by regions,
and software was designed to support that approach."
With a consistently stellar customer service rating, the
California company Workday Inc. is a "people-place," also named
"#1 Top Workplace in the Bay Area" and the "#1 Best Place to Work
in the Bay Area" in two different surveys.
The Lone Pine Capital LLC's website is closed to the public, but
according to GuruFocus research as of April 15, 2013, Steve
Mandel's portfolio has 52 stocks, 12 of them new, with a total
value of $15.9 billion, and a quarter-over-quarter turnover of
Mandel's other top buys, sells and holdings:
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