Canada Post Corp Registered Pension Plan Acquires 18,071 Shares of Workday, Inc. $WDAY

Key Points

• Canada Post Corp Registered Pension Plan increased its Workday stake by 52.1% in the fourth quarter, buying 18,071 additional shares and bringing its total holdings to 52,766 shares worth about $11.3 million.
• Workday reported quarterly earnings and revenue that beat analyst expectations, with EPS of $2.47 on revenue of $2.53 billion, while revenue rose 14.5% year over year.
• Several analysts trimmed price targets after the earnings update, but the stock still carries a Moderate Buy consensus with a target price of about $199.71.

Canada Post Corp Registered Pension Plan raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 52.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,766 shares of the software maker's stock after buying an additional 18,071 shares during the period. Canada Post Corp Registered Pension Plan's holdings in Workday were worth $11,333,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Workday by 14.7% during the 4th quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker's stock valued at $5,371,495,000 after acquiring an additional 3,210,232 shares during the period. First Eagle Investment Management LLC purchased a new position in Workday in the 3rd quarter worth approximately $556,252,000. Hotchkis & Wiley Capital Management LLC lifted its position in Workday by 47.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker's stock valued at $1,406,463,000 after purchasing an additional 1,882,391 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Workday by 41.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,761,599 shares of the software maker's stock valued at $905,530,000 after purchasing an additional 1,103,421 shares during the last quarter. Finally, Generation Investment Management LLP boosted its stake in shares of Workday by 50.4% during the third quarter. Generation Investment Management LLP now owns 3,087,395 shares of the software maker's stock valued at $743,229,000 after purchasing an additional 1,034,589 shares during the period. 89.81% of the stock is owned by institutional investors.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 107,500 shares of the company's stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $129.76, for a total value of $13,949,200.00. Following the sale, the insider owned 105,049 shares in the company, valued at approximately $13,631,158.24. This represents a 50.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 9,356 shares of the firm's stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total transaction of $1,201,216.84. Following the transaction, the insider directly owned 165,074 shares of the company's stock, valued at $21,193,850.86. This represents a 5.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 989,814 shares of company stock valued at $131,576,291. 18.64% of the stock is owned by company insiders.

Workday Trading Up 5.3%

WDAY opened at $125.01 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $274.65. The stock has a market cap of $32.13 billion, a PE ratio of 48.45, a PEG ratio of 1.21 and a beta of 1.04. The business has a 50 day moving average of $127.74 and a 200-day moving average of $173.09.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.15. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a return on equity of 13.37% and a net margin of 7.26%.The firm's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.92 earnings per share. Equities research analysts predict that Workday, Inc. will post 5.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WDAY. DA Davidson cut their target price on shares of Workday from $250.00 to $125.00 and set a "neutral" rating on the stock in a report on Wednesday, February 25th. Robert W. Baird set a $195.00 price target on shares of Workday in a research report on Tuesday, February 24th. BTIG Research decreased their price objective on shares of Workday from $230.00 to $175.00 and set a "buy" rating on the stock in a research report on Wednesday, February 25th. Stifel Nicolaus set a $175.00 price objective on shares of Workday in a research note on Monday, February 9th. Finally, KeyCorp dropped their target price on shares of Workday from $260.00 to $155.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Nineteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Workday presently has an average rating of "Moderate Buy" and a consensus target price of $199.71.

Workday Company Profile

Workday, Inc NASDAQ: WDAY is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday's platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company's product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.