Bank of Montreal Can Acquires 90,592 Shares of Workday, Inc. (NASDAQ:WDAY)

Bank of Montreal Can lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 33.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 363,776 shares of the software maker’s stock after acquiring an additional 90,592 shares during the quarter. Bank of Montreal Can’s holdings in Workday were worth $93,865,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in WDAY. Simplicity Wealth LLC lifted its holdings in Workday by 3.0% during the 4th quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock valued at $330,000 after purchasing an additional 37 shares during the last quarter. Marcum Wealth LLC increased its holdings in shares of Workday by 4.4% in the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after purchasing an additional 41 shares during the last quarter. Custom Index Systems LLC raised its position in shares of Workday by 3.0% in the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock valued at $364,000 after purchasing an additional 41 shares during the period. AllSquare Wealth Management LLC lifted its stake in shares of Workday by 19.4% during the 4th quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock worth $65,000 after buying an additional 41 shares during the last quarter. Finally, Ashton Thomas Securities LLC boosted its holdings in shares of Workday by 3.2% during the 4th quarter. Ashton Thomas Securities LLC now owns 1,494 shares of the software maker’s stock worth $385,000 after buying an additional 46 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Carl M. Eschenbach sold 3,125 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total transaction of $733,156.25. Following the completion of the transaction, the chief executive officer now owns 10,847 shares of the company’s stock, valued at approximately $2,544,814.67. This trade represents a 22.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 70,144 shares of Workday stock in a transaction on Monday, March 24th. The stock was sold at an average price of $250.26, for a total transaction of $17,554,237.44. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $25,776,029.22. This trade represents a 40.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 296,424 shares of company stock valued at $74,332,103 in the last 90 days. Corporate insiders own 20.00% of the company’s stock.

Workday Trading Down 2.3 %

Shares of Workday stock opened at $210.47 on Wednesday. The firm’s 50 day moving average is $251.02 and its 200 day moving average is $253.33. The firm has a market capitalization of $55.99 billion, a PE ratio of 34.90, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. 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 posted 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). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Equities research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on WDAY. Redburn Atlantic started coverage on shares of Workday in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Canaccord Genuity Group lifted their price target on Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. UBS Group upped their price objective on Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Guggenheim reissued a “neutral” rating on shares of Workday in a report on Wednesday, February 26th. Finally, Scotiabank decreased their price target on shares of Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and an average target price of $300.18.

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.