Bank of Nova Scotia Acquires 26,579 Shares of Workday, Inc. $WDAY

Bank of Nova Scotia lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 16.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 192,583 shares of the software maker’s stock after buying an additional 26,579 shares during the period. Bank of Nova Scotia owned approximately 0.07% of Workday worth $46,361,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Rakuten Securities Inc. purchased a new stake in shares of Workday during the 2nd quarter valued at about $25,000. Berbice Capital Management LLC lifted its position in Workday by 136.4% during the second quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock valued at $31,000 after purchasing an additional 75 shares during the period. Root Financial Partners LLC purchased a new stake in Workday in the third quarter worth approximately $40,000. Twin Peaks Wealth Advisors LLC bought a new stake in Workday in the 2nd quarter worth approximately $41,000. Finally, Geneos Wealth Management Inc. grew its position in Workday by 211.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after purchasing an additional 127 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Trading Down 0.8%

NASDAQ:WDAY opened at $133.09 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market capitalization of $34.20 billion, a price-to-earnings ratio of 51.59, a price-to-earnings-growth ratio of 1.29 and a beta of 1.17. Workday, Inc. has a one year low of $117.76 and a one year high of $276.00. The business has a fifty day moving average price of $164.66 and a 200-day moving average price of $205.82.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.15. Workday had a return on equity of 13.37% and a net margin of 7.26%.The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period last year, the firm earned $1.92 EPS. Workday’s revenue for the quarter was up 14.5% compared to the same quarter last year. Sell-side analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Loop Capital set a $210.00 price target on Workday in a research note on Thursday. Mizuho reduced their price objective on Workday from $275.00 to $210.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. TD Cowen downgraded Workday from a “buy” rating to a “hold” rating and set a $155.00 target price on the stock. in a report on Wednesday, February 25th. BTIG Research dropped their target price on Workday from $230.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Finally, Evercore downgraded Workday from an “outperform” rating to an “in-line” rating and set a $160.00 price target for the company. in a research note on Wednesday, February 25th. Twenty investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $203.00.

Insider Buying and Selling

In related news, insider Gerrit S. Kazmaier sold 6,547 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $218.77, for a total transaction of $1,432,287.19. Following the completion of the transaction, the insider directly owned 111,353 shares in the company, valued at approximately $24,360,695.81. The trade was a 5.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $208.75, for a total transaction of $1,252,500.00. Following the completion of the sale, the chief financial officer directly owned 159,158 shares of the company’s stock, valued at $33,224,232.50. This represents a 3.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 610,796 shares of company stock worth $107,013,566 over the last ninety days. 20.00% of the stock is 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.