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

Key Points

• TD Asset Management Inc has reduced its holdings in Workday, Inc. by 40.7%, owning 114,305 shares worth approximately $27.43 million after selling 78,384 shares in the 2nd quarter.
• Several hedge funds, including Vanguard Group Inc. and T. Rowe Price Investment Management Inc., have increased their stakes in Workday during the 1st quarter, highlighting ongoing institutional interest in the company.
• Workday's latest quarterly earnings showed a beat on estimates with earnings per share of $2.21 and revenue of $2.35 billion, marking a 12.6% increase compared to the same quarter last year.

TD Asset Management Inc reduced its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 40.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 114,305 shares of the software maker's stock after selling 78,384 shares during the period. TD Asset Management Inc's holdings in Workday were worth $27,433,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Workday by 2.3% during the first quarter. Vanguard Group Inc. now owns 20,598,655 shares of the software maker's stock worth $4,810,404,000 after acquiring an additional 455,855 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in Workday by 47.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker's stock worth $879,147,000 after purchasing an additional 1,211,659 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Workday by 0.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,736,609 shares of the software maker's stock worth $872,610,000 after purchasing an additional 14,354 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in Workday by 35.6% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 3,479,105 shares of the software maker's stock valued at $812,475,000 after purchasing an additional 913,613 shares in the last quarter. Finally, Parnassus Investments LLC boosted its stake in shares of Workday by 22.4% in the 1st quarter. Parnassus Investments LLC now owns 2,996,429 shares of the software maker's stock valued at $699,756,000 after buying an additional 548,694 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Richard Harry Sauer sold 2,320 shares of the firm's stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $235.87, for a total transaction of $547,218.40. Following the transaction, the insider directly owned 90,077 shares in the company, valued at approximately $21,246,461.99. This trade represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $232.62, for a total transaction of $1,395,720.00. Following the completion of the transaction, the chief financial officer directly owned 168,468 shares in the company, valued at $39,189,026.16. The trade was a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 264,933 shares of company stock worth $61,475,760 over the last ninety days. 19.31% of the stock is owned by corporate insiders.

Workday Trading Up 2.9%

Shares of Workday stock opened at $234.25 on Friday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $231.31 and a 200-day simple moving average of $236.75. The stock has a market cap of $62.54 billion, a price-to-earnings ratio of 108.45, a PEG ratio of 2.84 and a beta of 1.10. Workday, Inc. has a 12-month low of $205.33 and a 12-month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share for the quarter, beating analysts' consensus estimates of $2.09 by $0.12. The firm had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.34 billion. Workday had a net margin of 6.51% and a return on equity of 9.74%. Workday's quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.75 earnings per share. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WDAY shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Workday in a report on Wednesday, October 8th. Bank of America reduced their price objective on shares of Workday from $295.00 to $278.00 and set a "buy" rating on the stock in a report on Tuesday, August 19th. Canaccord Genuity Group lowered their target price on shares of Workday from $330.00 to $275.00 and set a "buy" rating for the company in a research note on Friday, August 22nd. Wells Fargo & Company dropped their target price on Workday from $325.00 to $300.00 and set an "overweight" rating on the stock in a report on Monday, August 18th. Finally, Needham & Company LLC restated a "buy" rating and issued a $300.00 price target on shares of Workday in a research note on Wednesday, September 17th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Workday has a consensus rating of "Moderate Buy" and an average target price of $287.83.

Workday Profile

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.

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