Workday, Inc. (NASDAQ:WDAY) Stock Holdings Lifted by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its position in Workday, Inc. (NASDAQ:WDAY) by 38.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,370 shares of the software maker’s stock after purchasing an additional 28,102 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Workday were worth $22,662,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Workday by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after purchasing an additional 324,540 shares during the period. Sustainable Growth Advisers LP raised its holdings in Workday by 9.7% in the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after acquiring an additional 301,463 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Workday by 12.4% in the 1st quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after acquiring an additional 281,207 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in Workday by 5.3% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,511,764 shares of the software maker’s stock valued at $417,338,000 after acquiring an additional 75,903 shares in the last quarter. Finally, Meritage Group LP raised its holdings in Workday by 27.5% in the 1st quarter. Meritage Group LP now owns 1,277,359 shares of the software maker’s stock valued at $348,400,000 after acquiring an additional 275,883 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several recent research reports. Bank of America upped their price target on Workday from $265.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Canaccord Genuity Group reissued a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Friday, September 13th. The Goldman Sachs Group increased their target price on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their target price on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Finally, Barclays increased their price target on Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $286.48.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $247.59, for a total value of $14,112,630.00. Following the sale, the insider now owns 505,000 shares in the company, valued at approximately $125,032,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the completion of the transaction, the insider now directly owns 505,000 shares of the company’s stock, valued at approximately $125,032,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The disclosure for this sale can be found here. Insiders have sold 467,402 shares of company stock worth $109,864,184 in the last quarter. Insiders own 20.00% of the company’s stock.

Workday Stock Performance

Shares of Workday stock opened at $248.29 on Monday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The stock has a market cap of $65.80 billion, a price-to-earnings ratio of 44.74, a P/E/G ratio of 5.07 and a beta of 1.35. The company’s fifty day moving average is $237.48 and its 200 day moving average is $241.95.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 earnings per share. Sell-side analysts forecast that Workday, Inc. will post 2.39 EPS for the current year.

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.