Investment Management Corp of Ontario Has $1.72 Million Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Investment Management Corp of Ontario boosted its position in Workday, Inc. (NASDAQ:WDAY) by 48.5% during the third quarter, Holdings Channel reports. The institutional investor owned 7,038 shares of the software maker’s stock after purchasing an additional 2,300 shares during the quarter. Investment Management Corp of Ontario’s holdings in Workday were worth $1,720,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDAY. Capital Performance Advisors LLP acquired a new stake in Workday in the 3rd quarter valued at approximately $26,000. SouthState Corp raised its position in Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after buying an additional 129 shares during the last quarter. Crewe Advisors LLC raised its position in Workday by 56.6% in the 2nd quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after buying an additional 56 shares during the last quarter. Goodman Advisory Group LLC acquired a new stake in Workday in the 2nd quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. raised its position in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ:WDAY opened at $268.87 on Thursday. The stock has a fifty day moving average price of $249.61 and a 200-day moving average price of $237.47. The company has a market cap of $71.25 billion, a price-to-earnings ratio of 44.59, a PEG ratio of 4.76 and a beta of 1.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.21% and a net margin of 19.86%. The company’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 EPS. As a group, equities analysts anticipate that Workday, Inc. will post 2.57 EPS for the current fiscal year.

Insider Activity

In other news, insider Sayan Chakraborty sold 5,498 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the transaction, the insider now owns 121,100 shares of the company’s stock, valued at approximately $30,369,458. The trade was a 4.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 70,003 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total value of $17,584,753.60. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $25,872,846.40. This trade represents a 40.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 361,463 shares of company stock worth $88,422,088. 20.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Loop Capital lowered their price target on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Stifel Nicolaus boosted their price target on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Morgan Stanley boosted their price target on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Evercore ISI lowered their price target on Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Finally, StockNews.com lowered Workday from a “buy” rating to a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $288.14.

Workday Company 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.