Cibc World Market Inc. Boosts Holdings in Workday, Inc. $WDAY

Cibc World Market Inc. boosted its stake in Workday, Inc. (NASDAQ:WDAY) by 114.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,996 shares of the software maker’s stock after acquiring an additional 12,799 shares during the period. Cibc World Market Inc.’s holdings in Workday were worth $5,777,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Workday by 2.5% during the second quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock worth $5,067,404,000 after purchasing an additional 515,529 shares in the last quarter. State Street Corp increased its position in Workday by 3.3% during the second quarter. State Street Corp now owns 9,600,516 shares of the software maker’s stock worth $2,304,124,000 after buying an additional 303,713 shares during the period. Geode Capital Management LLC lifted its stake in Workday by 2.9% in the second quarter. Geode Capital Management LLC now owns 4,952,938 shares of the software maker’s stock valued at $1,183,112,000 after buying an additional 140,042 shares during the last quarter. Parnassus Investments LLC boosted its holdings in shares of Workday by 13.1% in the third quarter. Parnassus Investments LLC now owns 3,217,205 shares of the software maker’s stock valued at $774,478,000 after acquiring an additional 371,561 shares during the period. Finally, Invesco Ltd. grew its position in shares of Workday by 10.4% during the second quarter. Invesco Ltd. now owns 2,187,137 shares of the software maker’s stock worth $524,913,000 after acquiring an additional 205,403 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Trading Up 0.3%

NASDAQ:WDAY opened at $144.42 on Friday. The stock has a market capitalization of $37.98 billion, a price-to-earnings ratio of 60.68, a PEG ratio of 1.23 and a beta of 1.13. Workday, Inc. has a 1 year low of $140.59 and a 1 year high of $281.00. The stock has a fifty day moving average price of $196.02 and a two-hundred day moving average price of $217.92. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.15. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.42 billion. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.89 EPS. As a group, sell-side analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Loop Capital set a $280.00 price target on shares of Workday in a research report on Wednesday, December 10th. Barclays reduced their target price on shares of Workday from $280.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 12th. Needham & Company LLC reissued a “buy” rating and set a $300.00 price target on shares of Workday in a report on Thursday, February 5th. Piper Sandler dropped their price target on Workday from $235.00 to $200.00 and set a “neutral” rating on the stock in a research report on Monday, February 2nd. Finally, Stifel Nicolaus set a $175.00 price objective on Workday in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $269.06.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 82,884 shares of the business’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $209.75, for a total transaction of $17,384,919.00. Following the sale, the insider directly owned 105,049 shares in the company, valued at approximately $22,034,027.75. The trade was a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $208.75, for a total value of $1,252,500.00. Following the completion of the sale, the chief financial officer directly owned 159,158 shares in the company, valued at $33,224,232.50. This trade represents a 3.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 370,321 shares of company stock worth $78,866,401 over the last ninety days. 19.31% of the stock is currently owned by corporate insiders.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.