Bank of Montreal Can Grows Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Bank of Montreal Can grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 21.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 273,184 shares of the software maker’s stock after buying an additional 47,546 shares during the quarter. Bank of Montreal Can’s holdings in Workday were worth $66,553,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. boosted its stake in shares of Workday by 27.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,417 shares of the software maker’s stock valued at $659,000 after purchasing an additional 525 shares during the period. Comerica Bank boosted its stake in shares of Workday by 13.2% in the first quarter. Comerica Bank now owns 42,664 shares of the software maker’s stock valued at $11,637,000 after purchasing an additional 4,977 shares during the period. Plato Investment Management Ltd boosted its stake in shares of Workday by 2,119.4% in the first quarter. Plato Investment Management Ltd now owns 3,085 shares of the software maker’s stock valued at $841,000 after purchasing an additional 2,946 shares during the period. Swedbank AB purchased a new position in shares of Workday in the first quarter valued at $21,906,000. Finally, Atria Investments Inc boosted its stake in shares of Workday by 1.2% in the first quarter. Atria Investments Inc now owns 38,296 shares of the software maker’s stock valued at $10,445,000 after purchasing an additional 452 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Workday

In related news, insider Richard Harry Sauer sold 3,134 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total value of $738,934.52. Following the completion of the transaction, the insider now owns 85,795 shares in the company, valued at $20,228,745.10. This represents a 3.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the transaction, the insider now owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. This trade represents a 16.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 359,954 shares of company stock worth $88,742,132 in the last 90 days. Corporate insiders own 20.00% of the company’s stock.

Workday Stock Down 6.2 %

WDAY stock opened at $253.40 on Thursday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The firm’s 50-day simple moving average is $248.62 and its 200 day simple moving average is $237.33. The stock has a market cap of $67.15 billion, a PE ratio of 44.15, a price-to-earnings-growth ratio of 5.31 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 EPS. As a group, sell-side analysts predict that Workday, Inc. will post 2.4 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on WDAY. Citigroup decreased their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. Barclays cut their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday. 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. Loop Capital cut their price target on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Workday in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $288.14.

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.