National Bank of Canada FI Acquires 87,082 Shares of Workday, Inc. (NASDAQ:WDAY)

National Bank of Canada FI raised its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 161.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,926 shares of the software maker’s stock after buying an additional 87,082 shares during the quarter. National Bank of Canada FI’s holdings in Workday were worth $36,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after acquiring an additional 4,517,272 shares during the last quarter. State Street Corp increased its holdings in shares of Workday by 1.4% in the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after purchasing an additional 67,380 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Workday by 2.7% in the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after buying an additional 76,618 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Workday by 5.4% during the fourth quarter. Clearbridge Investments LLC now owns 2,663,398 shares of the software maker’s stock valued at $687,237,000 after buying an additional 136,211 shares during the last quarter. Finally, Norges Bank purchased a new position in Workday during the 4th quarter valued at approximately $645,710,000. Institutional investors own 89.81% of the company’s stock.

Workday Trading Up 0.4 %

NASDAQ:WDAY opened at $235.39 on Thursday. The firm has a 50-day simple moving average of $255.66 and a 200-day simple moving average of $254.45. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The firm has a market cap of $62.61 billion, a P/E ratio of 39.04, a P/E/G ratio of 3.55 and a beta of 1.38. 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) 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 company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WDAY shares. Stifel Nicolaus increased their target price on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a research report on Wednesday, February 26th. JMP Securities reissued a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research note on Thursday, February 6th. UBS Group upped their target price on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Daiwa America upgraded Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. Finally, KeyCorp upped their price objective on Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $300.18.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $253.87, for a total transaction of $14,216,720.00. Following the completion of the transaction, the insider now owns 116,000 shares in the company, valued at $29,448,920. The trade was a 32.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 429,316 shares of company stock valued at $108,168,536 over the last quarter. 20.00% of the stock is owned by corporate 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.