Cibc World Markets Corp Makes New Investment in Workday, Inc. (NASDAQ:WDAY)

Cibc World Markets Corp purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,402 shares of the software maker’s stock, valued at approximately $402,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Workday by 1.0% during the third quarter. Vanguard Group Inc. now owns 12,813,123 shares of the software maker’s stock worth $1,950,413,000 after purchasing an additional 128,192 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Workday by 1.0% during the fourth quarter. Baillie Gifford & Co. now owns 7,386,848 shares of the software maker’s stock worth $1,236,041,000 after purchasing an additional 70,328 shares during the last quarter. Sustainable Growth Advisers LP increased its holdings in shares of Workday by 11.5% in the fourth quarter. Sustainable Growth Advisers LP now owns 4,011,014 shares of the software maker’s stock worth $671,163,000 after buying an additional 413,759 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Workday by 6.2% in the 1st quarter. Clearbridge Investments LLC now owns 3,427,755 shares of the software maker’s stock valued at $820,810,000 after acquiring an additional 201,605 shares during the last quarter. Finally, Tiger Global Management LLC lifted its stake in shares of Workday by 134.6% in the 3rd quarter. Tiger Global Management LLC now owns 3,172,411 shares of the software maker’s stock valued at $482,904,000 after acquiring an additional 1,820,074 shares during the last quarter. Institutional investors own 66.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WDAY shares. Canaccord Genuity Group boosted their target price on Workday from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. Bank of America boosted their target price on Workday from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, February 22nd. Needham & Company LLC reissued a “buy” rating and issued a $220.00 target price on shares of Workday in a research note on Tuesday, February 28th. DA Davidson boosted their target price on Workday from $205.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. Finally, Cowen upped their price target on Workday from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, February 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.97.

Workday Stock Performance

Workday stock opened at $195.71 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.75 and a current ratio of 1.75. The stock’s 50 day moving average is $189.89 and its 200 day moving average is $185.00. Workday, Inc. has a twelve month low of $128.72 and a twelve month high of $206.68.

Workday (NASDAQ:WDAY – Get Rating) last issued its earnings results on Monday, February 27th. The software maker reported $0.99 EPS for the quarter, beating the consensus estimate of $0.89 by $0.10. Workday had a negative return on equity of 1.96% and a negative net margin of 5.90%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the business posted ($0.20) EPS. The company’s revenue was up 19.6% compared to the same quarter last year. As a group, sell-side analysts predict that Workday, Inc. will post 0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In other Workday news, insider Douglas A. Robinson sold 266 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $191.44, for a total transaction of $50,923.04. Following the sale, the insider now directly owns 129,802 shares in the company, valued at approximately $24,849,294.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Douglas A. Robinson sold 266 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $191.44, for a total transaction of $50,923.04. Following the transaction, the insider now directly owns 129,802 shares of the company’s stock, valued at approximately $24,849,294.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director George J. Still, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $183.34, for a total value of $916,700.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at $916,700. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,469 shares of company stock worth $8,469,440. Insiders own 21.09% of the company’s stock.

About Workday

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Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A.