Bank of Nova Scotia Buys New Holdings in Workday Inc (WDAY)

Bank of Nova Scotia purchased a new stake in shares of Workday Inc (NYSE:WDAY) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 35,642 shares of the software maker’s stock, valued at approximately $3,457,000.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Workday by 8.5% in the second quarter. Vanguard Group Inc. now owns 10,782,861 shares of the software maker’s stock worth $1,045,937,000 after acquiring an additional 846,809 shares during the period. Tybourne Capital Management HK Ltd. grew its position in Workday by 2.2% during the second quarter. Tybourne Capital Management HK Ltd. now owns 2,935,961 shares of the software maker’s stock valued at $284,788,000 after buying an additional 62,419 shares during the period. State Street Corp grew its position in Workday by 10.6% during the first quarter. State Street Corp now owns 2,288,030 shares of the software maker’s stock valued at $190,552,000 after buying an additional 219,326 shares during the period. Federated Investors Inc. PA grew its position in Workday by 3.3% during the second quarter. Federated Investors Inc. PA now owns 1,322,300 shares of the software maker’s stock valued at $128,263,000 after buying an additional 41,800 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Workday during the second quarter valued at $117,209,000. Institutional investors and hedge funds own 67.08% of the company’s stock.

Several equities analysts have issued reports on WDAY shares. Royal Bank Of Canada reaffirmed a “buy” rating and set a $116.00 price objective on shares of Workday in a report on Sunday, August 27th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $115.00 price objective on shares of Workday in a report on Tuesday, August 22nd. Canaccord Genuity reissued a “buy” rating and issued a $115.00 price target on shares of Workday in a research note on Friday, July 7th. BidaskClub downgraded shares of Workday from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $122.00 price target on shares of Workday in a research note on Tuesday, August 29th. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $100.00.

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Shares of Workday Inc (NYSE WDAY) traded up 1.530% on Friday, hitting $108.759. 66,112 shares of the stock traded hands. The stock’s market cap is $22.62 billion. Workday Inc has a one year low of $65.79 and a one year high of $111.45. The company’s 50 day moving average is $106.24 and its 200 day moving average is $100.02.

Workday (NYSE:WDAY) last released its quarterly earnings data on Wednesday, August 30th. The software maker reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. Workday had a negative return on equity of 24.60% and a negative net margin of 15.71%. The business had revenue of $525.30 million during the quarter, compared to the consensus estimate of $507.44 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The firm’s revenue was up 40.6% on a year-over-year basis. On average, equities analysts forecast that Workday Inc will post $0.83 EPS for the current year.

In related news, CEO Aneel Bhusri sold 8,816 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $101.65, for a total transaction of $896,146.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Duffield sold 457,386 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $109.35, for a total value of $50,015,159.10. The disclosure for this sale can be found here. Insiders sold 1,575,678 shares of company stock valued at $170,655,114 over the last 90 days. Corporate insiders own 37.71% of the company’s stock.

About Workday

Workday, Inc is a provider of enterprise cloud applications for finance and human resources. The Company delivers financial management, human capital management and analytics applications designed for various companies, educational institutions and government agencies. As part of its applications, the Company provides embedded analytics that capture the content and context of everyday business events, facilitating informed decision-making from wherever users are working.

Institutional Ownership by Quarter for Workday (NYSE:WDAY)

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