CIBC Asset Management Inc Has $19.66 Million Stake in Workday, Inc. $WDAY

CIBC Asset Management Inc boosted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 4.3% during the 4th quarter, HoldingsChannel reports. The firm owned 91,525 shares of the software maker’s stock after buying an additional 3,780 shares during the quarter. CIBC Asset Management Inc’s holdings in Workday were worth $19,658,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in WDAY. Rakuten Securities Inc. purchased a new stake in shares of Workday in the second quarter valued at $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Workday during the third quarter valued at $26,000. DT Investment Partners LLC acquired a new position in Workday during the fourth quarter valued at $27,000. LRI Investments LLC acquired a new position in Workday during the fourth quarter valued at $29,000. Finally, JPL Wealth Management LLC purchased a new stake in Workday in the 3rd quarter worth about $30,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 1,585 shares of Workday stock in a transaction on Friday, April 10th. The shares were sold at an average price of $113.05, for a total value of $179,184.25. Following the completion of the sale, the chief accounting officer owned 31,467 shares of the company’s stock, valued at approximately $3,557,344.35. The trade was a 4.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder David A. Duffield sold 107,500 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $112.33, for a total transaction of $12,075,475.00. Following the completion of the sale, the insider owned 105,049 shares of the company’s stock, valued at $11,800,154.17. This represents a 50.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 774,814 shares of company stock valued at $101,308,591. 18.64% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. BTIG Research restated a “buy” rating and set a $175.00 price objective on shares of Workday in a research report on Monday, May 18th. HC Wainwright set a $140.00 price target on shares of Workday in a research report on Wednesday, May 27th. Mizuho decreased their price target on shares of Workday from $275.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Citizens Jmp downgraded shares of Workday from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 18th. Finally, Piper Sandler upped their price objective on shares of Workday from $135.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $185.03.

Workday Stock Up 0.7%

Shares of Workday stock opened at $147.91 on Friday. The firm has a market cap of $36.53 billion, a price-to-earnings ratio of 46.22, a P/E/G ratio of 1.62 and a beta of 1.09. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $257.09. The stock has a 50-day simple moving average of $126.90 and a 200-day simple moving average of $163.18.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.23 earnings per share. On average, equities research analysts expect that Workday, Inc. will post 5.19 earnings per share for the current fiscal year.

Workday Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.