Workday, Inc. (NASDAQ:WDAY) Stake Lessened by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 12.5% during the third quarter, HoldingsChannel reports. The fund 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 SEC filing.

Several other hedge funds also recently added to or reduced their stakes in WDAY. ORG Partners LLC increased its holdings in shares of Workday by 3,717.9% in the 2nd quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after acquiring an additional 3,123 shares during the last quarter. Grafton Street Partners Fund LP acquired a new stake in shares of Workday during the third quarter worth $4,424,000. ICICI Prudential Asset Management Co Ltd lifted its position in shares of Workday by 32.4% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after buying an additional 7,802 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Workday by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after buying an additional 118,180 shares during the period. Finally, Atria Investments Inc grew its position in shares of Workday by 19.3% during the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock valued at $10,833,000 after buying an additional 7,175 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $249.99 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The company has a market capitalization of $66.25 billion, a PE ratio of 41.46, a price-to-earnings-growth ratio of 4.96 and a beta of 1.35. The stock has a fifty day moving average of $248.77 and a 200-day moving average of $237.30. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.21% and a net margin of 19.86%. Workday’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the company posted $0.47 EPS. As a group, equities analysts anticipate that Workday, Inc. will post 2.4 EPS for the current fiscal year.

Insider Transactions at Workday

In other news, Director Wayne A.I. Frederick sold 1,828 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $241.85, for a total value of $442,101.80. Following the completion of the sale, the director now owns 8,674 shares of the company’s stock, valued at $2,097,806.90. This trade represents a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $26,902,816.40. The trade was a 39.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 359,954 shares of company stock valued at $88,742,132 over the last ninety days. Corporate insiders own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

WDAY has been the subject of a number of research reports. Citigroup decreased their target price on Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. Stifel Nicolaus increased their target price on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Morgan Stanley boosted their price target on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Scotiabank assumed coverage on shares of Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective on the stock. Finally, DA Davidson boosted their target price on shares of Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.