Canada Pension Plan Investment Board Has $23.39 Million Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Canada Pension Plan Investment Board raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 57.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,632 shares of the software maker's stock after purchasing an additional 33,022 shares during the period. Canada Pension Plan Investment Board's holdings in Workday were worth $23,386,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Roxbury Financial LLC bought a new stake in shares of Workday during the 4th quarter valued at about $25,000. Crews Bank & Trust acquired a new stake in shares of Workday during the 4th quarter worth approximately $26,000. Avion Wealth lifted its holdings in shares of Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after purchasing an additional 86 shares during the last quarter. TCTC Holdings LLC acquired a new position in Workday during the 4th quarter valued at approximately $35,000. Finally, Rakuten Securities Inc. increased its position in Workday by 78.6% in the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock worth $39,000 after buying an additional 66 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Stock Performance

NASDAQ:WDAY traded up $12.00 during mid-day trading on Thursday, hitting $236.87. 1,684,759 shares of the company's stock traded hands, compared to its average volume of 2,623,693. The firm has a market capitalization of $63.01 billion, a price-to-earnings ratio of 39.28, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32. The firm has a 50 day moving average of $241.68 and a two-hundred day moving average of $251.76. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (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 the consensus estimate of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. On average, equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WDAY has been the topic of several recent research reports. UBS Group lifted their price objective on shares of Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Jefferies Financial Group lowered their price target on Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Wells Fargo & Company dropped their price target on shares of Workday from $360.00 to $325.00 and set an "overweight" rating on the stock in a research report on Tuesday. KeyCorp increased their price target on Workday from $305.00 to $335.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Daiwa America upgraded Workday to a "strong-buy" rating in a research report on Tuesday, March 4th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $292.86.

Insiders Place Their Bets

In other news, insider Sayan Chakraborty sold 6,056 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $29,556,522. This trade represents a 5.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 66,455 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $26,729,781.44. The trade was a 39.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 321,724 shares of company stock worth $77,976,126 over the last 90 days. Corporate insiders own 20.00% of the company's stock.

About Workday

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.