Cibc World Markets Corp Buys 21,291 Shares of Workday, Inc. (NASDAQ:WDAY)

Cibc World Markets Corp boosted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 125.1% in the fourth quarter, Holdings Channel reports. The fund owned 38,312 shares of the software maker’s stock after acquiring 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 filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC lifted its position in shares of Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after purchasing an additional 480,459 shares during the last quarter. State Street Corp lifted its holdings in shares of Workday by 1.4% during the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after buying an additional 67,380 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Workday by 2.7% in the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after acquiring an additional 76,618 shares during the period. Parnassus Investments LLC grew its stake in shares of Workday by 562.2% in the fourth 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 last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Workday by 0.6% during the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after acquiring an additional 14,159 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Workday news, Director Wayne A.I. Frederick sold 1,829 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the sale, the director now directly owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. The trade was a 21.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $261.75, for a total transaction of $14,658,000.00. Following the completion of the transaction, the insider now directly owns 172,000 shares in the company, valued at $45,021,000. This trade represents a 24.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 473,001 shares of company stock valued at $120,614,400. 20.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on WDAY shares. Morgan Stanley downgraded shares of Workday from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. Loop Capital lifted their target price on Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, February 19th. Royal Bank of Canada upped their price target on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Citigroup decreased their price objective on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, BNP Paribas upgraded Workday to a “strong-buy” rating in a research note on Friday, February 14th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $300.36.

Workday Stock Up 0.5 %

Shares of NASDAQ WDAY opened at $251.91 on Wednesday. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The firm’s 50-day simple moving average is $256.89 and its 200 day simple moving average is $255.30. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market cap of $67.01 billion, a price-to-earnings ratio of 41.78, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. On average, research analysts expect 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.