Workday, Inc. (NASDAQ:WDAY) Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 61.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,413 shares of the software maker’s stock after acquiring an additional 15,382 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Workday were worth $9,035,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Carolinas Wealth Consulting LLC raised its holdings in Workday by 9.7% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock worth $106,000 after purchasing an additional 34 shares in the last quarter. Congress Wealth Management LLC DE lifted its holdings in shares of Workday by 2.4% in the 4th quarter. Congress Wealth Management LLC DE now owns 1,658 shares of the software maker’s stock valued at $458,000 after buying an additional 39 shares during the period. Raleigh Capital Management Inc. lifted its holdings in shares of Workday by 4.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 869 shares of the software maker’s stock valued at $240,000 after buying an additional 39 shares during the period. D.A. Davidson & CO. grew its holdings in Workday by 3.5% during the fourth quarter. D.A. Davidson & CO. now owns 1,241 shares of the software maker’s stock worth $343,000 after acquiring an additional 42 shares during the period. Finally, Dorsey & Whitney Trust CO LLC raised its position in Workday by 4.4% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,031 shares of the software maker’s stock worth $281,000 after acquiring an additional 43 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Price Performance

Shares of WDAY opened at $243.37 on Thursday. The stock has a fifty day moving average price of $237.96 and a 200 day moving average price of $241.69. The company has a market cap of $64.49 billion, a P/E ratio of 43.85, a PEG ratio of 4.87 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the business posted $0.40 EPS. Workday’s revenue was up 16.5% on a year-over-year basis. On average, research analysts forecast that Workday, Inc. will post 2.39 earnings per share for the current year.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $245.36, for a total transaction of $13,740,160.00. Following the completion of the sale, the insider now directly owns 449,000 shares in the company, valued at $110,166,640. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $23,059,998.33. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $245.36, for a total value of $13,740,160.00. Following the transaction, the insider now directly owns 449,000 shares in the company, valued at approximately $110,166,640. The disclosure for this sale can be found here. Insiders have sold a total of 523,402 shares of company stock worth $123,604,344 in the last three months. 20.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on WDAY. Guggenheim reissued a “sell” rating and set a $190.00 price objective on shares of Workday in a report on Tuesday, June 25th. Morgan Stanley decreased their price objective on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Needham & Company LLC dropped their target price on Workday from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Loop Capital lifted their price target on Workday from $240.00 to $255.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $300.00 target price on shares of Workday in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and a consensus target price of $287.04.

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.