5 Back-to-Work Stocks to Buy Now

2. Workday, Inc. (NASDAQ:WDAY)

Number of Hedge Fund Holders: 72

Workday, Inc. (NASDAQ:WDAY) markets enterprise cloud applications. One of the most popular products of the firm is financial management software. As business resumes, banks and tech companies could turn to the company for solutions to manage higher traffic at their branches. 

Needham analyst Scott Berg recently kept a Buy rating on Workday, Inc. (NASDAQ:WDAY) stock and raised the price target to $360 from $310, underlining that the third quarter earnings of the firm were “very good”. 

At the end of the third quarter of 2021, 72 hedge funds in the database of Insider Monkey held stakes worth $6.3 billion in Workday, Inc. (NASDAQ: WDAY), the same as in the previous quarter worth $5.1 billion.

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Workday, Inc. (NASDAQ:WDAY) was one of them. Here is what the fund said:

“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.”