Healthcare of Ontario Pension Plan Trust Fund Decreases Stake in Workday, Inc. $WDAY

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 64.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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’s holdings in Workday were worth $17,830,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in WDAY. Rakuten Securities Inc. acquired a new position in shares of Workday in the 2nd quarter valued at $25,000. Measured Wealth Private Client Group LLC purchased a new position in Workday in the 3rd quarter worth $26,000. JPL Wealth Management LLC acquired a new stake in Workday during the 3rd quarter worth about $30,000. DT Investment Partners LLC purchased a new stake in Workday during the 4th quarter valued at about $27,000. Finally, LRI Investments LLC purchased a new stake in Workday during the 4th quarter valued at about $29,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Stock Up 9.0%

Workday stock opened at $147.54 on Tuesday. The business’s 50-day moving average price is $133.51 and its 200 day moving average price is $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 firm has a market cap of $36.44 billion, a price-to-earnings ratio of 46.11, a price-to-earnings-growth ratio of 1.44 and a beta of 1.11. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85.

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

Insider Activity at Workday

In other Workday news, insider Robert Enslin sold 5,374 shares of Workday stock in a transaction on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total value of $724,952.60. Following the completion of the transaction, the insider owned 239,469 shares of the company’s stock, valued at approximately $32,304,368.10. The trade was a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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, CFO Zane Rowe sold 6,000 shares of the 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 sale, the chief financial officer directly owned 288,460 shares in the company, valued at approximately $41,451,702. The trade was a 2.04% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 875,020 shares of company stock worth $113,938,503 in the last three months. Company insiders own 18.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on WDAY. Oppenheimer restated an “outperform” rating on shares of Workday in a research note on Thursday, June 11th. Wolfe Research reiterated an “outperform” rating and issued a $160.00 target price on shares of Workday in a research report on Friday, May 22nd. Morgan Stanley downgraded shares of Workday from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $185.00 to $145.00 in a report on Tuesday, July 21st. Wells Fargo & Company raised their price target on shares of Workday from $180.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Finally, TD Cowen restated a “hold” rating on shares of Workday in a research note on Friday, May 22nd. One investment 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.80.

Workday 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.