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

Investment Management Corp of Ontario lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 36.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 9,631 shares of the software maker’s stock after buying an additional 2,593 shares during the period. Investment Management Corp of Ontario’s holdings in Workday were worth $2,485,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of WDAY. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Workday by 0.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 44,227 shares of the software maker’s stock worth $10,809,000 after purchasing an additional 146 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Workday by 2.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 2,325 shares of the software maker’s stock worth $600,000 after purchasing an additional 60 shares in the last quarter. Czech National Bank acquired a new stake in shares of Workday during the 4th quarter worth $11,917,000. Fiduciary Alliance LLC acquired a new stake in shares of Workday during the 4th quarter worth $2,486,000. Finally, CHICAGO TRUST Co NA grew its holdings in shares of Workday by 1.7% during the 4th quarter. CHICAGO TRUST Co NA now owns 4,290 shares of the software maker’s stock worth $1,107,000 after purchasing an additional 70 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WDAY shares. DA Davidson dropped their price objective on Workday from $270.00 to $230.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. UBS Group upped their price objective on Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. KeyCorp upped their price objective on Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Piper Sandler dropped their price objective on Workday from $290.00 to $230.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. Finally, Stifel Nicolaus upped their price objective on Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $293.62.

Workday Trading Up 0.4%

Shares of Workday stock opened at $259.01 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The stock has a 50 day moving average price of $238.49 and a two-hundred day moving average price of $252.33. The stock has a market capitalization of $68.90 billion, a PE ratio of 42.95, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS 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 firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. As a group, equities analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total transaction of $733,156.25. Following the transaction, the chief executive officer now owns 10,847 shares of the company’s stock, valued at $2,544,814.67. The trade was a 22.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 81,275 shares of Workday stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total value of $17,448,117.00. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $22,111,395.96. The trade was a 44.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 321,724 shares of company stock valued at $77,976,126 over the last 90 days. Insiders own 19.31% of the company’s stock.

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.