Bank of Montreal Can Acquires 47,546 Shares of Workday, Inc. (NASDAQ:WDAY)

Bank of Montreal Can raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 21.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 273,184 shares of the software maker’s stock after purchasing an additional 47,546 shares during the period. Bank of Montreal Can owned 0.10% of Workday worth $66,553,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of Workday during the third quarter worth $26,000. SouthState Corp increased its position in shares of Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after purchasing an additional 129 shares in the last quarter. Crewe Advisors LLC increased its position in shares of Workday by 56.6% during the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock worth $35,000 after purchasing an additional 56 shares in the last quarter. Goodman Advisory Group LLC acquired a new position in shares of Workday during the second quarter worth $35,000. Finally, Meeder Asset Management Inc. increased its position in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Stock Performance

NASDAQ:WDAY opened at $253.40 on Thursday. The firm has a 50 day simple moving average of $248.62 and a 200-day simple moving average of $237.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a market cap of $67.15 billion, a PE ratio of 44.15, a P/E/G ratio of 5.31 and a beta of 1.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the business posted $0.47 earnings per share. Workday’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, equities analysts expect that Workday, Inc. will post 2.4 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. This represents a 39.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Richard Harry Sauer sold 3,134 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total transaction of $738,934.52. Following the transaction, the insider now directly owns 85,795 shares of the company’s stock, valued at $20,228,745.10. This trade represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 359,954 shares of company stock valued at $88,742,132. Insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WDAY. The Goldman Sachs Group upped their price target on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. KeyCorp boosted their price objective on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Barclays dropped their price objective on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday. Loop Capital dropped their price objective on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and set a $300.00 price objective on shares of Workday in a report on Monday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $288.14.

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.