Investment Management Corp of Ontario Has $2.49 Million Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Investment Management Corp of Ontario lifted its holdings in Workday, Inc. (NASDAQ:WDAY) by 36.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,631 shares of the software maker’s stock after buying an additional 2,593 shares during the quarter. Investment Management Corp of Ontario’s holdings in Workday were worth $2,485,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new stake in Workday in the fourth quarter worth about $26,000. Roxbury Financial LLC bought a new stake in shares of Workday in the 4th quarter valued at about $25,000. Avion Wealth increased its stake in shares of Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares during the last quarter. TCTC Holdings LLC bought a new stake in shares of Workday in the 4th quarter valued at about $35,000. Finally, Rakuten Securities Inc. increased its stake in shares of Workday by 78.6% in the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock valued at $39,000 after acquiring an additional 66 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Trading Up 0.4%

Shares of Workday stock opened at $259.01 on Monday. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The business’s 50 day moving average is $238.49 and its 200-day moving average is $252.33. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a market cap of $68.90 billion, a P/E ratio of 42.95, a P/E/G ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Equities research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 66,455 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total value of $17,246,401.60. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,729,781.44. This represents a 39.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Sayan Chakraborty sold 6,056 shares of Workday stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total value of $1,607,868.00. Following the sale, the insider now directly owns 111,324 shares of the company’s stock, valued at $29,556,522. This represents a 5.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 321,724 shares of company stock worth $77,976,126. Company insiders own 19.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WDAY shares. The Goldman Sachs Group upped their price target on Workday from $310.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. DA Davidson lowered their price target on Workday from $270.00 to $230.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Jefferies Financial Group lowered their price target on Workday from $350.00 to $325.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Royal Bank of Canada boosted their price objective on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, Daiwa America upgraded Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $293.62.

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.