3 Stocks To Buy According To Zach Schreiber’s PointState Capital

2. Workday, Inc. (NASDAQ:WDAY)

PointState Capital’s Stake Value: $115,896,000

Percentage of PointState Capital’s 13F Portfolio: 1.93%

Number of Hedge Fund Holders: 72

A cloud-based financial management and human capital management software company, Workday, Inc. (NASDAQ:WDAY) is one of the top new stocks in Zach Schreiber’s PointState Capital’s Q2 portfolio. Workday, Inc. (NASDAQ:WDAY) offers on-demand enterprise management services to the healthcare, retail, manufacturing, education, hospitality, and financial services sectors, among others. 

PointState Capital owns 463,789 shares of Workday, Inc. (NASDAQ:WDAY), worth $115.8 million, representing 1.93% of the firm’s Q3 portfolio. 

At the end of the third quarter, 72 hedge funds in Insider Monkey’s database of elite funds reported owning stakes in Workday, Inc. (NASDAQ:WDAY), worth $6.3 billion.

Workday, Inc. (NASDAQ:WDAY) was awarded a Buy rating by Deutsche Bank analyst Brad Zelnick on November 1. He kept a $360 price target on the stock, citing strong company fundamentals that make Workday, Inc. (NASDAQ:WDAY) well-positioned for a strong future outlook. 

Here is what ClearBridge Investments has to say about Workday, Inc. (NASDAQ:WDAY) in its Q1 2021 investor letter:

“In addition to the new issue market, we have been tactically adding growth exposure. We took advantage of the selloff in disruptors that comprise a large portion of the portfolio to initiate a position in enterprise software maker Workday.”