Workday, Inc. $WDAY Stock Holdings Increased by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in Workday, Inc. (NASDAQ:WDAY) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 91,525 shares of the software maker’s stock after purchasing an additional 3,780 shares during the quarter. CIBC Asset Management Inc’s holdings in Workday were worth $19,658,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of WDAY. Rakuten Securities Inc. bought a new stake in shares of Workday during the second quarter valued at about $25,000. Measured Wealth Private Client Group LLC bought a new position in Workday in the 3rd quarter valued at about $26,000. DT Investment Partners LLC bought a new position in Workday in the 4th quarter valued at about $27,000. LRI Investments LLC acquired a new position in Workday during the 4th quarter valued at about $29,000. Finally, JPL Wealth Management LLC bought a new stake in shares of Workday during the 3rd quarter worth about $30,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $112.33, for a total value of $12,075,475.00. Following the transaction, the insider directly owned 105,049 shares in the company, valued at $11,800,154.17. The trade was a 50.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 9,356 shares of the company’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total value of $1,201,216.84. Following the sale, the insider directly owned 165,074 shares of the company’s stock, valued at approximately $21,193,850.86. This represents a 5.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 774,814 shares of company stock worth $101,308,591. 18.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

WDAY has been the subject of a number of research analyst reports. Weiss Ratings lowered shares of Workday from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 20th. Summit Redstone set a $275.00 target price on Workday in a report on Wednesday, May 27th. Loop Capital set a $210.00 target price on Workday in a research report on Thursday, March 12th. HC Wainwright set a $140.00 price target on Workday in a research note on Wednesday, May 27th. Finally, Needham & Company LLC lowered their price target on Workday from $300.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $185.03.

Workday Stock Up 0.7%

WDAY stock opened at $147.91 on Friday. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $257.09. The firm has a market cap of $36.53 billion, a PE ratio of 46.22, a P/E/G ratio of 1.62 and a beta of 1.09. The firm has a 50 day simple moving average of $126.90 and a 200 day simple moving average of $163.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.15. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.23 earnings per share. Equities research analysts forecast that Workday, Inc. will post 5.19 earnings per share for the current fiscal year.

Workday 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.