Workday, Inc. (NASDAQ:WDAY) Shares Acquired by Cibc World Markets Corp

Cibc World Markets Corp boosted its stake in Workday, Inc. (NASDAQ:WDAY) by 125.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,312 shares of the software maker’s stock after buying an additional 21,291 shares during the period. Cibc World Markets Corp’s holdings in Workday were worth $9,886,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Parnassus Investments LLC increased its holdings in shares of Workday by 562.2% in the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after acquiring an additional 2,078,097 shares during the period. Raymond James Financial Inc. bought a new position in Workday in the 4th quarter worth about $194,679,000. Two Sigma Advisers LP increased its stake in shares of Workday by 1,094.2% in the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after purchasing an additional 562,400 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Workday by 62.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,360,002 shares of the software maker’s stock valued at $350,921,000 after purchasing an additional 524,799 shares during the period. Finally, KBC Group NV raised its holdings in shares of Workday by 340.3% during the fourth quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock valued at $169,199,000 after buying an additional 506,812 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on WDAY. Scotiabank lowered their target price on Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a research report on Monday. Wells Fargo & Company raised their price target on Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Loop Capital upped their price objective on shares of Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th. UBS Group increased their target price on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Finally, BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a research report on Friday, February 14th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $300.36.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 71,672 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $248.58, for a total value of $17,816,225.76. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $25,602,994.26. This represents a 41.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $241.33, for a total value of $1,809,975.00. Following the sale, the director now owns 75,000 shares of the company’s stock, valued at approximately $18,099,750. This represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 473,001 shares of company stock valued at $120,614,400. 20.00% of the stock is owned by insiders.

Workday Trading Up 0.5 %

Shares of NASDAQ WDAY opened at $251.91 on Wednesday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The business has a 50-day moving average price of $256.89 and a two-hundred day moving average price of $255.30. The firm has a market capitalization of $67.01 billion, a PE ratio of 41.78, a PEG ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. As a group, analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

About Workday

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.