Workday, Inc. (NASDAQ:WDAY) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp has reduced its stake in Workday, Inc. by 2.2%, now holding approximately 236,495 shares valued at $55.23 million.
• Institutional investors own 89.81% of Workday's stock, highlighting significant interest among large financial organizations.
• Workday recently reported earnings of $2.23 per share, surpassing analyst expectations and reflecting a 12.6% year-over-year revenue growth with total revenues of $2.24 billion.

Mackenzie Financial Corp decreased its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 236,495 shares of the software maker's stock after selling 5,313 shares during the period. Mackenzie Financial Corp owned approximately 0.09% of Workday worth $55,229,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WDAY. T. Rowe Price Investment Management Inc. acquired a new position in Workday during the 4th quarter valued at about $658,735,000. Geode Capital Management LLC boosted its position 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 purchasing an additional 1,772,223 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position 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 purchasing an additional 1,406,088 shares in the last quarter. Invesco Ltd. boosted its position in shares of Workday by 102.6% during the 4th quarter. Invesco Ltd. now owns 1,855,778 shares of the software maker's stock valued at $478,846,000 after purchasing an additional 939,955 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Workday by 51.2% during the 4th quarter. Northern Trust Corp now owns 2,263,981 shares of the software maker's stock valued at $584,175,000 after purchasing an additional 767,034 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Insider Activity

In other news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $248.41, for a total value of $1,863,075.00. Following the transaction, the director owned 67,500 shares of the company's stock, valued at $16,767,675. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the completion of the transaction, the chief executive officer directly owned 1,472 shares in the company, valued at approximately $352,440.96. This represents a 80.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 329,005 shares of company stock valued at $79,203,523. 20.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WDAY. Wall Street Zen upgraded shares of Workday from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. JPMorgan Chase & Co. reduced their price objective on shares of Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Guggenheim reiterated a "neutral" rating on shares of Workday in a report on Friday, May 23rd. JMP Securities reiterated a "market outperform" rating and issued a $315.00 target price on shares of Workday in a report on Friday, May 23rd. Finally, Citigroup cut shares of Workday from a "neutral" rating to a "mixed" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $296.88.

Workday Price Performance

Shares of WDAY opened at $238.04 on Tuesday. The firm has a market cap of $63.56 billion, a PE ratio of 131.51, a PEG ratio of 3.65 and a beta of 1.21. The firm's 50 day moving average price is $241.87 and its 200 day moving average price is $246.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.22. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. The company's revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.74 earnings per share. As a group, research analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Workday 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.

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