CIBC Private Wealth Group LLC Buys 745,435 Shares of Workday, Inc. (NASDAQ:WDAY)

CIBC Private Wealth Group LLC boosted its stake in Workday, Inc. (NASDAQ:WDAY) by 180.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,158,549 shares of the software maker’s stock after purchasing an additional 745,435 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.44% of Workday worth $295,071,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in WDAY. Bristlecone Advisors LLC increased its stake in shares of Workday by 49.6% in the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock valued at $754,000 after acquiring an additional 968 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in Workday by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after purchasing an additional 1,978 shares during the period. Nordea Investment Management AB increased its stake in Workday by 20.5% in the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after purchasing an additional 119,769 shares in the last quarter. Burns Matteson Capital Management LLC acquired a new stake in Workday in the fourth quarter worth $369,000. Finally, Worldquant Millennium Advisors LLC boosted its position in shares of Workday by 387.0% during the third quarter. Worldquant Millennium Advisors LLC now owns 355,655 shares of the software maker’s stock worth $86,926,000 after purchasing an additional 282,632 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Activity at Workday

In other news, insider Sayan Chakraborty sold 6,056 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the transaction, the insider now directly owns 111,324 shares of the company’s stock, valued at approximately $29,556,522. This trade represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $261.75, for a total value of $14,658,000.00. Following the completion of the sale, the insider now directly owns 172,000 shares of the company’s stock, valued at approximately $45,021,000. This trade represents a 24.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 487,145 shares of company stock valued at $123,289,438. Insiders own 20.00% of the company’s stock.

Workday Stock Performance

Shares of WDAY opened at $238.49 on Friday. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The stock has a 50-day moving average price of $256.67 and a 200-day moving average price of $254.82. The company has a market cap of $63.44 billion, a PE ratio of 39.55, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last released its 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). The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. As a group, equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Canaccord Genuity Group raised their price objective on Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Citigroup cut their price objective on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. BNP Paribas raised Workday to a “strong-buy” rating in a research note on Friday, February 14th. StockNews.com lowered shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Scotiabank lowered their price objective on shares of Workday from $355.00 to $305.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $300.36.

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.