Cibc World Markets Corp Acquires 21,291 Shares of Workday, Inc. (NASDAQ:WDAY)

Cibc World Markets Corp lifted its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 125.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,312 shares of the software maker's stock after purchasing an additional 21,291 shares during the quarter. Cibc World Markets Corp's holdings in Workday were worth $9,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Parnassus Investments LLC grew its position in Workday by 562.2% in the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock worth $631,589,000 after purchasing an additional 2,078,097 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Workday in the 4th quarter worth $194,679,000. Two Sigma Advisers LP grew its holdings in shares of Workday by 1,094.2% in the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker's stock worth $150,019,000 after acquiring an additional 562,400 shares during the period. Charles Schwab Investment Management Inc. increased its position in Workday by 62.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,360,002 shares of the software maker's stock valued at $350,921,000 after acquiring an additional 524,799 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Workday by 340.3% in the fourth quarter. KBC Group NV now owns 655,733 shares of the software maker's stock valued at $169,199,000 after acquiring an additional 506,812 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

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Workday Price Performance

WDAY traded down $0.98 during trading hours on Friday, hitting $249.49. The company's stock had a trading volume of 2,831,817 shares, compared to its average volume of 2,425,661. The stock has a market cap of $66.36 billion, a price-to-earnings ratio of 41.37, a P/E/G ratio of 3.55 and a beta of 1.38. The business's 50-day moving average price is $256.76 and its 200-day moving average price is $255.15. 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 earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Sell-side analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on WDAY shares. Citigroup reduced their price target on shares of Workday from $287.00 to $270.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. JPMorgan Chase & Co. upped their target price on shares of Workday from $285.00 to $310.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Canaccord Genuity Group lifted their price target on shares of Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. KeyCorp upped their price objective on Workday from $305.00 to $335.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft upgraded Workday from a "hold" rating to a "buy" rating and lifted their target price for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Ten 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, the stock has an average rating of "Moderate Buy" and an average price target of $300.36.

Insider Activity

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction 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 sale, the chief executive officer now owns 13,972 shares of the company's stock, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 71,672 shares of Workday stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the transaction, the insider now directly owns 102,997 shares of the company's stock, valued at approximately $25,602,994.26. This represents a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 473,001 shares of company stock valued at $120,614,400 in the last ninety days. 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.