Workday, Inc. (NASDAQ:WDAY) Stake Boosted by Mackenzie Financial Corp

Mackenzie Financial Corp raised its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 78.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 241,808 shares of the software maker's stock after purchasing an additional 106,364 shares during the period. Mackenzie Financial Corp owned about 0.09% of Workday worth $62,394,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock valued at $5,197,447,000 after purchasing an additional 4,517,272 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock valued at $1,193,105,000 after acquiring an additional 1,772,223 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Workday by 60.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock valued at $960,454,000 after acquiring an additional 1,406,088 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of Workday by 1.5% during the 4th quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker's stock valued at $911,027,000 after acquiring an additional 52,104 shares during the last quarter. Finally, FIL Ltd increased its stake in shares of Workday by 6.5% during the 4th quarter. FIL Ltd now owns 2,963,124 shares of the software maker's stock valued at $764,575,000 after acquiring an additional 181,899 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder David A. Duffield sold 66,455 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $26,729,781.44. This trade represents a 39.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sayan Chakraborty sold 6,056 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total value of $1,607,868.00. Following the transaction, the insider now owns 111,324 shares in the company, valued at $29,556,522. This trade represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 321,724 shares of company stock worth $77,976,126. 20.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

WDAY has been the topic of several research reports. UBS Group increased their target price on Workday from $255.00 to $285.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. BNP Paribas upgraded Workday to a "strong-buy" rating in a report on Friday, February 14th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $340.00 price objective on shares of Workday in a research note on Friday, May 23rd. Piper Sandler reiterated a "neutral" rating and set a $255.00 target price (up previously from $230.00) on shares of Workday in a report on Friday, May 23rd. Finally, Scotiabank cut their price target on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Nine research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $293.54.

Workday Stock Up 0.3%

Shares of Workday stock traded up $0.60 on Wednesday, hitting $239.90. 2,718,190 shares of the company's stock traded hands, compared to its average volume of 2,533,082. The stock has a market cap of $63.81 billion, a P/E ratio of 39.78, a PEG ratio of 3.55 and a beta of 1.30. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm's 50-day moving average is $242.06 and its 200 day moving average is $253.96. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, beating the consensus estimate of $2.01 by $0.22. The company had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.22 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business's revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.74 EPS. Equities analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

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.