TD Asset Management Inc Increases Holdings in Workday, Inc. $WDAY

Key Points

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TD Asset Management Inc increased its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 22.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 199,454 shares of the software maker's stock after purchasing an additional 36,420 shares during the quarter. TD Asset Management Inc owned about 0.08% of Workday worth $42,839,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Rakuten Securities Inc. purchased a new position in Workday during the second quarter worth about $25,000. Measured Wealth Private Client Group LLC purchased a new position in Workday during the third quarter worth about $26,000. DT Investment Partners LLC purchased a new position in Workday during the fourth quarter worth about $27,000. LRI Investments LLC purchased a new position in Workday during the fourth quarter worth about $29,000. Finally, JPL Wealth Management LLC purchased a new position in Workday during the third quarter worth about $30,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 107,500 shares of the business's stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $112.33, for a total value of $12,075,475.00. Following the completion of the sale, the insider owned 105,049 shares of the company's stock, valued at approximately $11,800,154.17. The trade was a 50.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Mark S. Garfield sold 1,585 shares of the business's stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $113.05, for a total value of $179,184.25. Following the completion of the sale, the chief accounting officer directly owned 31,467 shares of the company's stock, valued at approximately $3,557,344.35. This trade represents a 4.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 774,814 shares of company stock worth $101,308,591 in the last 90 days. 18.64% of the stock is currently owned by company insiders.

Workday Price Performance

WDAY opened at $144.28 on Friday. The stock has a 50-day moving average price of $127.25 and a 200-day moving average price of $163.05. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $257.09. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $35.64 billion, a P/E ratio of 45.09, a PEG ratio of 1.59 and a beta of 1.09.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm had revenue of $2.54 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same period in the prior year, the business earned $2.23 EPS. The company's revenue for the quarter was up 13.5% compared to the same quarter last year. Equities analysts predict that Workday, Inc. will post 5.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Raymond James Financial restated a "market perform" rating on shares of Workday in a research report on Monday, February 9th. Citigroup restated a "market perform" rating on shares of Workday in a research report on Friday, May 22nd. Needham & Company LLC reduced their target price on Workday from $300.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, May 22nd. Evercore cut Workday from an "outperform" rating to an "in-line" rating and set a $160.00 target price for the company. in a research report on Wednesday, February 25th. Finally, Monness Crespi & Hardt upgraded Workday to a "hold" rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $185.03.

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.

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