National Bank of Canada FI Acquires 29,644 Shares of Workday, Inc. (NASDAQ:WDAY)

National Bank of Canada FI raised its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 122.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,844 shares of the software maker's stock after acquiring an additional 29,644 shares during the quarter. National Bank of Canada FI's holdings in Workday were worth $13,160,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in Workday during the third quarter valued at $26,000. SouthState Corp raised its stake in Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker's stock worth $34,000 after acquiring an additional 129 shares during the period. Crewe Advisors LLC boosted its stake in Workday by 56.6% in the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker's stock valued at $35,000 after acquiring an additional 56 shares during the period. Goodman Advisory Group LLC bought a new position in shares of Workday during the second quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. raised its position in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock worth $35,000 after purchasing an additional 43 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. StockNews.com lowered Workday from a "buy" rating to a "hold" rating in a research report on Wednesday, December 4th. Wells Fargo & Company increased their price objective on shares of Workday from $300.00 to $330.00 and gave the stock an "overweight" rating in a report on Monday. BMO Capital Markets reissued an "outperform" rating and set a $300.00 target price on shares of Workday in a research note on Wednesday, September 18th. Oppenheimer restated an "outperform" rating and issued a $300.00 price target on shares of Workday in a research note on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Workday from $265.00 to $275.00 and gave the stock a "hold" rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $289.21.

Workday Stock Up 0.5 %

WDAY traded up $1.48 during midday trading on Wednesday, hitting $272.36. 3,788,026 shares of the company's stock traded hands, compared to its average volume of 2,236,358. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market cap of $72.18 billion, a PE ratio of 45.52, a price-to-earnings-growth ratio of 4.91 and a beta of 1.34. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The stock's fifty day simple moving average is $251.73 and its 200-day simple moving average is $237.88.

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 analysts' consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.13 billion. During the same period in the prior year, the company posted $0.47 earnings per share. Workday's revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities analysts anticipate that Workday, Inc. will post 2.58 earnings per share for the current fiscal year.

Insider Activity

In other Workday news, insider Sayan Chakraborty sold 5,498 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the sale, the insider now directly owns 121,100 shares of the company's stock, valued at $30,369,458. This represents a 4.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 70,003 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $25,872,846.40. The trade was a 40.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 361,463 shares of company stock valued at $88,422,088 over the last 90 days. 20.00% of the stock is currently owned by company insiders.

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.