Bank of Montreal Can Increases Position in Workday, Inc. (NASDAQ:WDAY)

Bank of Montreal Can boosted its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 33.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 363,776 shares of the software maker's stock after buying an additional 90,592 shares during the period. Bank of Montreal Can owned approximately 0.14% of Workday worth $93,865,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares in the last quarter. Geode Capital Management LLC raised its stake in Workday by 61.9% in the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock valued at $1,193,105,000 after purchasing an additional 1,772,223 shares in the last quarter. Clearbridge Investments LLC grew its position in Workday by 5.4% during the fourth quarter. Clearbridge Investments LLC now owns 2,663,398 shares of the software maker's stock valued at $687,237,000 after acquiring an additional 136,211 shares during the last quarter. Norges Bank bought a new stake in Workday in the fourth quarter valued at approximately $645,710,000. Finally, Parnassus Investments LLC lifted its stake in Workday by 562.2% in the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock worth $631,589,000 after acquiring an additional 2,078,097 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Remove Ads

Workday Trading Up 2.1 %

Shares of Workday stock traded up $4.77 during trading on Monday, hitting $231.28. The stock had a trading volume of 749,906 shares, compared to its average volume of 2,605,147. The stock has a market cap of $61.52 billion, a PE ratio of 38.35, a PEG ratio of 3.55 and a beta of 1.32. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The firm's fifty day simple moving average is $248.47 and its 200-day simple moving average is $252.86. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. As a group, sell-side analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 81,275 shares of the stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total value of $17,448,117.00. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $22,111,395.96. This represents a 44.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sayan Chakraborty sold 6,056 shares of Workday stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the transaction, the insider now directly owns 111,324 shares in the company, valued at $29,556,522. The trade was a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 321,227 shares of company stock worth $77,863,531. Insiders own 20.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on WDAY. Royal Bank of Canada lifted their target price on shares of Workday from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Oppenheimer increased their price objective on Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Jefferies Financial Group dropped their price target on Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Canaccord Genuity Group raised their target price on Workday from $300.00 to $330.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Finally, BNP Paribas upgraded Workday to a "strong-buy" rating in a report on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Workday currently has an average rating of "Moderate Buy" and an average price target of $300.18.

Workday 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.