Workday, Inc. (NASDAQ:WDAY) Shares Acquired by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. raised its holdings in shares of Workday, Inc. (NASDAQ:WDAYGet Rating) by 1.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 825,814 shares of the software maker’s stock after buying an additional 7,852 shares during the quarter. Workday accounts for approximately 3.3% of Montrusco Bolton Investments Inc.’s investment portfolio, making the stock its 7th biggest holding. Montrusco Bolton Investments Inc.’s holdings in Workday were worth $123,994,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in WDAY. EFG Asset Management North America Corp. boosted its position in shares of Workday by 1.1% in the 3rd quarter. EFG Asset Management North America Corp. now owns 22,743 shares of the software maker’s stock valued at $3,463,000 after purchasing an additional 243 shares during the period. US Bancorp DE boosted its position in shares of Workday by 3.2% in the 2nd quarter. US Bancorp DE now owns 18,599 shares of the software maker’s stock valued at $2,596,000 after purchasing an additional 572 shares during the period. Synovus Financial Corp boosted its position in shares of Workday by 18.6% in the 2nd quarter. Synovus Financial Corp now owns 17,879 shares of the software maker’s stock valued at $2,497,000 after purchasing an additional 2,800 shares during the period. Baker Tilly Wealth Management LLC boosted its position in shares of Workday by 11.5% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 4,707 shares of the software maker’s stock valued at $657,000 after purchasing an additional 487 shares during the period. Finally, First Hawaiian Bank boosted its position in shares of Workday by 44.7% in the 3rd quarter. First Hawaiian Bank now owns 6,842 shares of the software maker’s stock valued at $1,041,000 after purchasing an additional 2,114 shares during the period. 66.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Credit Suisse Group decreased their target price on Workday from $215.00 to $195.00 and set a “neutral” rating for the company in a research report on Monday, December 5th. Mizuho decreased their price objective on Workday from $220.00 to $200.00 in a research report on Wednesday, November 30th. Monness Crespi & Hardt cut Workday from a “buy” rating to a “neutral” rating in a research report on Thursday, November 17th. Cowen increased their price objective on Workday to $225.00 in a research report on Monday, December 12th. Finally, Capital One Financial started coverage on Workday in a research note on Friday, January 13th. They set an “overweight” rating and a $200.00 target price for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $214.47.

Insider Transactions at Workday

In other news, CFO Barbara A. Larson sold 904 shares of the stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $176.05, for a total transaction of $159,149.20. Following the completion of the sale, the chief financial officer now owns 76,588 shares of the company’s stock, valued at $13,483,317.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Barbara A. Larson sold 904 shares of the stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $176.05, for a total transaction of $159,149.20. Following the completion of the sale, the chief financial officer now owns 76,588 shares of the company’s stock, valued at $13,483,317.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aneel Bhusri sold 2,787 shares of the stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $161.72, for a total transaction of $450,713.64. Following the sale, the chief executive officer now directly owns 415,722 shares of the company’s stock, valued at approximately $67,230,561.84. The disclosure for this sale can be found here. Insiders sold 119,548 shares of company stock valued at $20,795,439 over the last quarter. Corporate insiders own 21.74% of the company’s stock.

Workday Trading Down 1.9 %

NASDAQ:WDAY traded down $3.23 during trading hours on Wednesday, hitting $169.30. The stock had a trading volume of 307,153 shares, compared to its average volume of 1,973,466. Workday, Inc. has a one year low of $128.72 and a one year high of $257.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.87 and a current ratio of 1.87. The company has a market cap of $43.51 billion, a price-to-earnings ratio of -137.73 and a beta of 1.27. The business’s 50 day moving average is $163.97 and its 200-day moving average is $158.84.

Workday (NASDAQ:WDAYGet Rating) last issued its quarterly earnings data on Tuesday, November 29th. The software maker reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.18. Workday had a negative net margin of 5.29% and a negative return on equity of 2.11%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. The firm’s revenue was up 20.5% compared to the same quarter last year. Sell-side analysts anticipate that Workday, Inc. will post -0.44 EPS for the current fiscal year.

Workday declared that its board has authorized a share repurchase plan on Tuesday, November 29th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the software maker to reacquire up to 1.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Workday Company Profile

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Workday, Inc provides enterprise cloud applications in the United States and internationally. The company's applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. It offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes; 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.

See Also

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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