Canandaigua National Bank & Trust Co. Boosts Position in Workday, Inc. (NASDAQ:WDAY)

Canandaigua National Bank & Trust Co. increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 40.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,644 shares of the software maker’s stock after purchasing an additional 1,043 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Workday were worth $891,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of WDAY. Belpointe Asset Management LLC acquired a new stake in shares of Workday in the fourth quarter valued at about $209,000. Capital World Investors grew its stake in Workday by 1.4% during the 4th quarter. Capital World Investors now owns 345,615 shares of the software maker’s stock valued at $95,410,000 after purchasing an additional 4,608 shares in the last quarter. Cetera Advisor Networks LLC lifted its holdings in Workday by 3.6% during the 4th quarter. Cetera Advisor Networks LLC now owns 14,343 shares of the software maker’s stock worth $3,960,000 after buying an additional 502 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in Workday by 152.1% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 31,123 shares of the software maker’s stock worth $8,592,000 after buying an additional 18,778 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Workday by 0.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 556,124 shares of the software maker’s stock worth $153,524,000 after buying an additional 2,166 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Up 0.6 %

Shares of Workday stock traded up $1.41 during midday trading on Friday, hitting $242.35. The company’s stock had a trading volume of 1,621,609 shares, compared to its average volume of 2,180,255. The firm has a market capitalization of $64.22 billion, a P/E ratio of 43.67, a PEG ratio of 4.71 and a beta of 1.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a 50-day simple moving average of $240.30 and a 200-day simple moving average of $240.54.

Workday (NASDAQ:WDAY) last released its quarterly earnings data 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. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 earnings per share. As a group, sell-side analysts expect that Workday, Inc. will post 2.4 earnings per share for the current year.

Analyst Ratings Changes

WDAY has been the topic of several recent research reports. BMO Capital Markets reissued an “outperform” rating and issued a $300.00 price target on shares of Workday in a report on Wednesday, September 18th. Citigroup cut their price target on Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Stifel Nicolaus raised their price target on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 target price on shares of Workday in a research note on Thursday, September 19th. Finally, Morgan Stanley cut their target price on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $287.04.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 76,376 shares of Workday stock in a transaction on Monday, July 8th. The stock was sold at an average price of $226.74, for a total transaction of $17,317,494.24. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $23,353,539.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $242.96, for a total value of $13,605,760.00. Following the completion of the sale, the insider now owns 393,000 shares of the company’s stock, valued at $95,483,280. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 76,376 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $226.74, for a total value of $17,317,494.24. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $23,353,539.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 389,123 shares of company stock valued at $94,376,699. Insiders own 20.00% of the company’s stock.

Workday Profile

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.