National Bank of Canada FI Raises Stock Position in Workday, Inc. (NASDAQ:WDAY)

National Bank of Canada FI raised its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 122.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,844 shares of the software maker’s stock after purchasing an additional 29,644 shares during the period. National Bank of Canada FI’s holdings in Workday were worth $13,160,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of WDAY. The Manufacturers Life Insurance Company boosted its holdings in Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after buying an additional 1,016,394 shares during the last quarter. Van ECK Associates Corp raised its stake in Workday by 17,345.2% in the 2nd quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock valued at $208,068,000 after purchasing an additional 925,366 shares during the last quarter. Two Sigma Advisers LP raised its stake in Workday by 1,094.2% in the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after purchasing an additional 562,400 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after buying an additional 480,459 shares during the last quarter. Finally, D1 Capital Partners L.P. lifted its stake in shares of Workday by 152.1% in the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock worth $115,804,000 after buying an additional 312,500 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analysts Set New Price Targets

WDAY has been the topic of several recent research reports. Morgan Stanley boosted their target price on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Scotiabank began coverage on shares of Workday in a research report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target on the stock. JMP Securities reiterated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a report on Thursday, September 19th. KeyCorp raised their price target on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Piper Sandler reissued a “neutral” rating and set a $270.00 target price (down previously from $285.00) on shares of Workday in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $289.21.

Workday Price Performance

Shares of NASDAQ WDAY opened at $270.88 on Wednesday. The stock’s 50-day moving average is $251.13 and its two-hundred day moving average is $237.53. 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 $311.28. The company has a market cap of $71.78 billion, a price-to-earnings ratio of 44.92, a price-to-earnings-growth ratio of 4.91 and a beta of 1.34.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company’s revenue was up 15.8% on a year-over-year basis. During the same period last year, the business earned $0.47 EPS. Analysts forecast that Workday, Inc. will post 2.58 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $245.36, for a total transaction of $13,740,160.00. Following the sale, the insider now directly owns 449,000 shares in the company, valued at $110,166,640. This trade represents a 11.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sayan Chakraborty sold 5,498 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the sale, the insider now directly owns 121,100 shares of the company’s stock, valued at approximately $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. In the last 90 days, insiders have sold 361,463 shares of company stock worth $88,422,088. 20.00% of the stock is currently owned by 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.