Healthcare of Ontario Pension Plan Trust Fund Lowers Stock Holdings in Workday, Inc. $WDAY

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in Workday, Inc. (NASDAQ:WDAY) by 64.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,237 shares of the software maker’s stock after selling 244,570 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.05% of Workday worth $17,830,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of WDAY. Vanguard Group Inc. grew its stake in Workday by 14.7% in the fourth quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock worth $5,371,495,000 after purchasing an additional 3,210,232 shares in the last quarter. Auto Owners Insurance Co raised its position in Workday by 25,412.8% during the 4th quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock valued at $2,197,332,000 after purchasing an additional 10,190,516 shares in the last quarter. State Street Corp raised its position in Workday by 1.0% during the 4th quarter. State Street Corp now owns 9,770,707 shares of the software maker’s stock valued at $2,098,552,000 after purchasing an additional 96,139 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Workday by 47.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock worth $1,406,463,000 after buying an additional 1,882,391 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Workday by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker’s stock worth $1,089,970,000 after buying an additional 75,922 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total transaction of $862,200.00. Following the transaction, the chief financial officer directly owned 288,460 shares of the company’s stock, valued at $41,451,702. This represents a 2.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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. Also, CAO Mark S. Garfield sold 918 shares of the stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $142.19, for a total value of $130,530.42. Following the completion of the sale, the chief accounting officer owned 73,718 shares of the company’s stock, valued at approximately $10,481,962.42. This trade represents a 1.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 875,020 shares of company stock worth $113,938,503. Company insiders own 18.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on WDAY shares. William Blair upgraded Workday to a “strong-buy” rating in a research note on Friday, May 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Workday in a research note on Wednesday, June 17th. Wells Fargo & Company increased their target price on shares of Workday from $180.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. TD Cowen reissued a “hold” rating on shares of Workday in a research report on Friday, May 22nd. Finally, Bank of America initiated coverage on shares of Workday in a report on Wednesday, May 27th. They issued a “neutral” rating and a $140.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $179.80.

Workday Trading Up 9.0%

NASDAQ:WDAY opened at $147.54 on Tuesday. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85. The firm has a 50 day moving average of $133.51 and a 200 day moving average of $140.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $36.44 billion, a price-to-earnings ratio of 46.11, a PEG ratio of 1.44 and a beta of 1.11.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the firm earned $2.23 earnings per share. Workday’s revenue was up 13.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Workday, Inc. will post 5.38 earnings per share for the current fiscal year.

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.