BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of Workday Inc (NASDAQ:WDAY) by 17.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,673 shares of the software maker’s stock after selling 8,876 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Workday were worth $7,844,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. Strategy Asset Managers LLC purchased a new stake in shares of Workday during the 1st quarter valued at $31,000. Keybank National Association OH increased its position in shares of Workday by 13.2% during the 1st quarter. Keybank National Association OH now owns 30,725 shares of the software maker’s stock valued at $5,925,000 after purchasing an additional 3,584 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Workday by 9.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 613,936 shares of the software maker’s stock valued at $118,398,000 after purchasing an additional 51,588 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in shares of Workday during the 1st quarter valued at $135,000. Finally, ETF Managers Group LLC increased its position in shares of Workday by 8.0% during the 1st quarter. ETF Managers Group LLC now owns 1,124 shares of the software maker’s stock valued at $217,000 after purchasing an additional 83 shares during the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.
In other Workday news, CEO Aneel Bhusri sold 300,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $179.58, for a total value of $53,874,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Duffield sold 278,758 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $179.40, for a total value of $50,009,185.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,126,562 shares of company stock valued at $208,547,706. 29.80% of the stock is owned by corporate insiders.
Shares of NASDAQ WDAY opened at $210.72 on Friday. Workday Inc has a 52 week low of $117.24 and a 52 week high of $213.98. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $46.78 billion, a price-to-earnings ratio of -172.72 and a beta of 1.79.
Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, February 28th. The software maker reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.02. Workday had a negative return on equity of 14.75% and a negative net margin of 14.82%. The business had revenue of $788.63 million during the quarter, compared to the consensus estimate of $776.84 million. On average, equities analysts forecast that Workday Inc will post -1.2 earnings per share for the current fiscal year.
WDAY has been the subject of several research analyst reports. Cowen raised Workday from a “market perform” rating to an “outperform” rating and raised their target price for the company from $160.00 to $225.00 in a research report on Friday, February 15th. Citigroup lifted their price objective on Workday from $106.00 to $138.00 and gave the stock a “sell” rating in a report on Friday, March 1st. Northland Securities reissued a “hold” rating and issued a $200.00 price objective on shares of Workday in a report on Friday, March 1st. Barclays lifted their price objective on Workday from $180.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. Finally, KeyCorp lifted their price objective on Workday from $216.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Workday has a consensus rating of “Buy” and an average price target of $186.00.
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Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.
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