CIBC Asset Management Inc Acquires 76,824 Shares of Workday, Inc. (NASDAQ:WDAY)

CIBC Asset Management Inc raised its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 180.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 119,321 shares of the software maker's stock after buying an additional 76,824 shares during the quarter. CIBC Asset Management Inc's holdings in Workday were worth $30,788,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Claro Advisors LLC bought a new stake in Workday in the 3rd quarter worth about $255,000. Blue Trust Inc. increased its holdings in Workday by 84.6% in the 3rd quarter. Blue Trust Inc. now owns 3,066 shares of the software maker's stock worth $685,000 after buying an additional 1,405 shares in the last quarter. Raymond James & Associates increased its holdings in Workday by 10.1% in the 3rd quarter. Raymond James & Associates now owns 509,513 shares of the software maker's stock worth $124,530,000 after buying an additional 46,651 shares in the last quarter. New Century Financial Group LLC increased its holdings in Workday by 5.0% in the 3rd quarter. New Century Financial Group LLC now owns 1,246 shares of the software maker's stock worth $305,000 after buying an additional 59 shares in the last quarter. Finally, Bellecapital International Ltd. bought a new stake in Workday in the 3rd quarter worth about $211,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on WDAY. Citigroup cut their price target on Workday from $287.00 to $270.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Guggenheim upgraded Workday from a "sell" rating to a "neutral" rating in a research note on Monday, January 6th. Redburn Atlantic began coverage on Workday in a research note on Wednesday. They set a "neutral" rating for the company. Oppenheimer restated an "outperform" rating and set a $300.00 price target on shares of Workday in a research note on Tuesday, December 3rd. Finally, BNP Paribas upgraded Workday to a "strong-buy" rating in a research note on Friday, February 14th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $291.11.

Workday Price Performance

Shares of WDAY traded down $5.24 during mid-day trading on Friday, hitting $256.39. 2,415,239 shares of the stock were exchanged, compared to its average volume of 2,092,095. The company has a market cap of $68.20 billion, a PE ratio of 42.52, a price-to-earnings-growth ratio of 3.56 and a beta of 1.35. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The firm has a 50-day moving average of $260.75 and a two-hundred day moving average of $252.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company's revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. On average, equities analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In other news, CAO Mark S. Garfield sold 472 shares of the business's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the transaction, the chief accounting officer now owns 35,408 shares of the company's stock, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the transaction, the chief executive officer now directly owns 13,972 shares in the company, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock valued at $113,142,592 in the last ninety 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.