Bank of Nova Scotia Buys 110,661 Shares of Workday, Inc. $WDAY

Bank of Nova Scotia grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 200.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,004 shares of the software maker’s stock after buying an additional 110,661 shares during the period. Bank of Nova Scotia’s holdings in Workday were worth $39,841,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Workday by 2.5% in 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 during the period. Geode Capital Management LLC raised its position in shares of Workday by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 4,952,938 shares of the software maker’s stock valued at $1,183,112,000 after purchasing an additional 140,042 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Workday by 47.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker’s stock valued at $879,147,000 after buying an additional 1,211,659 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Workday by 0.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,736,609 shares of the software maker’s stock worth $872,610,000 after buying an additional 14,354 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in Workday by 35.6% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 3,479,105 shares of the software maker’s stock worth $812,475,000 after buying an additional 913,613 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WDAY. DA Davidson lowered their price objective on Workday from $260.00 to $250.00 and set a “hold” rating on the stock in a research report on Wednesday, November 26th. Morgan Stanley boosted their price target on Workday from $255.00 to $280.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 26th. Barclays dropped their price target on Workday from $288.00 to $280.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Macquarie reiterated a “buy” rating on shares of Workday in a research report on Wednesday, November 26th. Finally, Piper Sandler raised shares of Workday from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $220.00 to $235.00 in a report on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $281.16.

Workday Trading Up 0.5%

WDAY stock opened at $221.00 on Tuesday. The firm has a fifty day moving average price of $229.98 and a 200 day moving average price of $233.11. Workday, Inc. has a fifty-two week low of $205.33 and a fifty-two week high of $294.00. The firm has a market cap of $58.12 billion, a PE ratio of 92.86, a price-to-earnings-growth ratio of 2.66 and a beta of 1.15. 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 released its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, beating the consensus estimate of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the business earned $1.89 earnings per share. Workday’s quarterly revenue was up 12.6% compared to the same quarter last year. Sell-side analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $237.52, for a total transaction of $1,484,500.00. Following the sale, the chief executive officer directly owned 20,222 shares in the company, valued at $4,803,129.44. This represents a 23.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Richard Harry Sauer sold 2,320 shares of the firm’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $235.87, for a total value of $547,218.40. Following the completion of the sale, the insider directly owned 90,077 shares of the company’s stock, valued at $21,246,461.99. The trade was a 2.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 346,958 shares of company stock worth $78,880,645 in the last quarter. Company insiders own 20.00% of the company’s stock.

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.