CIBC Asset Management Inc Has $30.79 Million Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

CIBC Asset Management Inc increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 180.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 119,321 shares of the software maker’s stock after purchasing an additional 76,824 shares during the period. CIBC Asset Management Inc’s holdings in Workday were worth $30,788,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Claro Advisors LLC bought a new position in Workday in the third quarter worth approximately $255,000. Blue Trust Inc. raised its position in shares of Workday by 84.6% during the third quarter. Blue Trust Inc. now owns 3,066 shares of the software maker’s stock worth $685,000 after purchasing an additional 1,405 shares during the period. Raymond James & Associates lifted its holdings in shares of Workday by 10.1% in the 3rd quarter. Raymond James & Associates now owns 509,513 shares of the software maker’s stock worth $124,530,000 after purchasing an additional 46,651 shares in the last quarter. New Century Financial Group LLC grew its position in Workday by 5.0% in the 3rd quarter. New Century Financial Group LLC now owns 1,246 shares of the software maker’s stock valued at $305,000 after purchasing an additional 59 shares during the period. Finally, Bellecapital International Ltd. bought a new stake in Workday during the 3rd quarter valued at $211,000. 89.81% of the stock is currently owned by institutional investors.

Workday Price Performance

NASDAQ:WDAY opened at $258.05 on Tuesday. The firm has a market capitalization of $68.64 billion, a price-to-earnings ratio of 42.79, a P/E/G ratio of 3.78 and a beta of 1.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a fifty day moving average of $262.13 and a 200 day moving average of $251.80. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm posted $0.47 EPS. The firm’s revenue was up 15.8% compared to the same quarter last year. On average, research analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WDAY. Bank of America reduced their price objective on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Oppenheimer reiterated an “outperform” rating and set a $300.00 price target on shares of Workday in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their price objective on Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Royal Bank of Canada increased their price target on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Finally, Guggenheim raised shares of Workday from a “sell” rating to a “neutral” rating in a report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $292.43.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 70,003 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $251.20, for a total value of $17,584,753.60. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $25,872,846.40. This trade represents a 40.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sayan Chakraborty sold 5,498 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the transaction, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 over the last quarter. 20.00% of the stock is owned by corporate insiders.

Workday 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.