CIBC Private Wealth Group LLC Acquires 745,435 Shares of Workday, Inc. (NASDAQ:WDAY)

CIBC Private Wealth Group LLC lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 180.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,158,549 shares of the software maker’s stock after purchasing an additional 745,435 shares during the period. CIBC Private Wealth Group LLC’s holdings in Workday were worth $295,071,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Crews Bank & Trust bought a new stake in shares of Workday during the 4th quarter valued at about $26,000. Roxbury Financial LLC bought a new stake in Workday during the 4th quarter valued at approximately $25,000. Avion Wealth grew its holdings in shares of Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares during the period. TCTC Holdings LLC bought a new position in shares of Workday in the 4th quarter worth approximately $35,000. Finally, True Wealth Design LLC lifted its stake in shares of Workday by 4,766.7% in the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after purchasing an additional 143 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Monday, December 30th. The shares were sold at an average price of $261.75, for a total transaction of $14,658,000.00. Following the transaction, the insider now owns 172,000 shares in the company, valued at $45,021,000. This trade represents a 24.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the sale, the director now directly owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. The trade was a 21.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 487,145 shares of company stock worth $123,289,438. 20.00% of the stock is owned by company insiders.

Workday Stock Performance

WDAY stock opened at $238.49 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The company has a market cap of $63.44 billion, a P/E ratio of 39.55, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The stock’s fifty day moving average price is $256.67 and its 200-day moving average price is $254.82.

Workday (NASDAQ:WDAY) last announced its earnings results 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). Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. On average, equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WDAY. Canaccord Genuity Group increased their price objective on Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Royal Bank of Canada increased their price target on shares of Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. StockNews.com lowered shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler raised their target price on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group boosted their price target on Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Ten investment 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $300.36.

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.