BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in Workday, Inc. (NASDAQ:WDAY) by 12.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,375 shares of the software maker’s stock after selling 5,038 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Workday were worth $8,646,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WDAY. Meeder Asset Management Inc. lifted its stake in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares during the period. Kingsview Wealth Management LLC boosted its stake in shares of Workday by 0.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after acquiring an additional 43 shares in the last quarter. Diversified Trust Co grew its holdings in shares of Workday by 1.0% in the 2nd quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock worth $1,080,000 after acquiring an additional 47 shares during the period. Opal Wealth Advisors LLC grew its holdings in shares of Workday by 5.2% in the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after acquiring an additional 47 shares during the period. Finally, Mesirow Financial Investment Management Inc. increased its stake in Workday by 3.4% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock valued at $324,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Activity at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the completion of the sale, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. This trade represents a 7.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was 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 in the company, valued at $26,902,816.40. This represents a 39.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 359,954 shares of company stock worth $88,742,132. Corporate insiders own 20.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on WDAY. Citigroup lowered their target price on Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Needham & Company LLC restated a “buy” rating and set a $300.00 target price on shares of Workday in a report on Monday, November 25th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Friday, September 13th. JMP Securities reissued a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research note on Thursday, September 19th. Finally, BMO Capital Markets restated an “outperform” rating and set a $300.00 price objective on shares of Workday in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $288.14.

Workday Stock Down 1.3 %

Shares of NASDAQ:WDAY opened at $249.99 on Monday. The stock has a 50-day simple moving average of $248.77 and a 200-day simple moving average of $237.30. The stock has a market capitalization of $66.25 billion, a P/E ratio of 41.46, a PEG ratio of 4.96 and a beta of 1.35. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.21%. The company 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 earned $0.47 earnings per share. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. Equities analysts forecast that Workday, Inc. will post 2.4 earnings per share for the current year.

Workday Company Profile

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.