Workday, Inc. (NASDAQ:WDAY) is Cannon Global Investment Management LLC’s 5th Largest Position

Cannon Global Investment Management LLC increased its holdings in Workday, Inc. (NASDAQ:WDAY) by 250.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,900 shares of the software maker’s stock after acquiring an additional 3,500 shares during the quarter. Workday makes up about 3.6% of Cannon Global Investment Management LLC’s holdings, making the stock its 5th biggest position. Cannon Global Investment Management LLC’s holdings in Workday were worth $1,336,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of WDAY. Vontobel Holding Ltd. grew its stake in shares of Workday by 5.1% in the 4th quarter. Vontobel Holding Ltd. now owns 67,077 shares of the software maker’s stock valued at $18,517,000 after purchasing an additional 3,260 shares during the last quarter. Morgan Stanley raised its position in Workday by 47.0% during the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after buying an additional 872,288 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Workday by 9.9% in the 4th quarter. Assetmark Inc. now owns 21,414 shares of the software maker’s stock worth $5,912,000 after acquiring an additional 1,933 shares during the period. Bornite Capital Management LP acquired a new stake in shares of Workday in the 4th quarter worth $34,508,000. Finally, Bain Capital Public Equity LP boosted its holdings in shares of Workday by 32.5% in the fourth quarter. Bain Capital Public Equity LP now owns 22,471 shares of the software maker’s stock valued at $6,203,000 after acquiring an additional 5,513 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of analyst reports. Mizuho lowered their price objective on Workday from $325.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, May 24th. BMO Capital Markets decreased their price target on Workday from $338.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Jefferies Financial Group cut their price objective on Workday from $350.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Royal Bank of Canada decreased their target price on shares of Workday from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Finally, Oppenheimer cut their price target on shares of Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $282.11.

Workday Trading Up 0.1 %

WDAY traded up $0.20 during trading on Friday, hitting $223.56. The company’s stock had a trading volume of 2,677,241 shares, compared to its average volume of 2,610,670. Workday, Inc. has a twelve month low of $202.01 and a twelve month high of $311.28. The firm’s 50 day moving average price is $232.50 and its 200-day moving average price is $263.31. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market cap of $59.24 billion, a PE ratio of 40.28, a PEG ratio of 5.64 and a beta of 1.33.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.20. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 earnings per share. On average, analysts expect that Workday, Inc. will post 2.12 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the completion of the sale, the insider now directly owns 730,000 shares in the company, valued at approximately $159,563,400. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the completion of the sale, the insider now owns 730,000 shares of the company’s stock, valued at approximately $159,563,400. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 64,162 shares of Workday stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $271.67, for a total transaction of $17,430,890.54. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $27,981,194.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 448,713 shares of company stock valued at $109,278,793. Insiders own 20.00% of the company’s stock.

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.