Mackenzie Financial Corp Sells 62,655 Shares of Workday, Inc. (NASDAQ:WDAY)

Mackenzie Financial Corp cut its holdings in Workday, Inc. (NASDAQ:WDAY) by 38.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 98,353 shares of the software maker’s stock after selling 62,655 shares during the quarter. Mackenzie Financial Corp’s holdings in Workday were worth $21,988,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Crewe Advisors LLC bought a new position in Workday during the first quarter worth about $27,000. Sound Income Strategies LLC raised its stake in shares of Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after purchasing an additional 49 shares in the last quarter. SouthState Corp grew its position in shares of Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after acquiring an additional 129 shares during the period. Asset Dedication LLC bought a new position in Workday during the second quarter worth about $36,000. Finally, PSI Advisors LLC bought a new position in shares of Workday during the 2nd quarter worth approximately $38,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Price Performance

Shares of WDAY opened at $243.62 on Monday. The stock has a market cap of $64.56 billion, a PE ratio of 43.90, a PEG ratio of 4.91 and a beta of 1.35. 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 business has a 50-day simple moving average of $238.82 and a two-hundred day simple moving average of $241.16. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.10. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company’s revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 EPS. Analysts anticipate that Workday, Inc. will post 2.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction 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 transaction, the insider now directly owns 449,000 shares of the company’s stock, valued at $110,166,640. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, September 23rd. The stock was 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $226.67, for a total transaction of $710,383.78. Following the sale, the insider now directly owns 92,014 shares of the company’s stock, valued at $20,856,813.38. The disclosure for this sale can be found here. Insiders sold 389,123 shares of company stock valued at $93,545,659 over the last 90 days. Company insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of research reports. Barclays upped their price target on shares of Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. DA Davidson increased their target price on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. BMO Capital Markets restated an “outperform” rating and issued a $300.00 price target on shares of Workday in a research note on Wednesday, September 18th. Loop Capital boosted their target price on shares of Workday from $240.00 to $255.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $300.00 price objective on shares of Workday in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $287.04.

Workday Company 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.