Workday, Inc. $WDAY Shares Sold by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada reduced its Workday holdings by 68.3% in the second quarter, selling 9,370 shares and retaining 4,342 shares valued at approximately $566,000. Institutional investors overall own 89.81% of the company.
• Workday reported quarterly EPS of $2.75, beating estimates of $2.61, while revenue rose 12.8% year over year to $2.65 billion. The stock opened at $185.09, below the analyst consensus price target of $206.34.
• Analyst sentiment remains mixed, with 20 Buy, 17 Hold and two Sell ratings. Insiders sold 738,096 shares worth about $106.1 million over the past 90 days, including a major shareholder’s sale of 107,500 shares.

TD Waterhouse Canada Inc. lowered its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 68.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 4,342 shares of the software maker's stock after selling 9,370 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Workday were worth $566,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Concurrent Investment Advisors LLC raised its holdings in Workday by 36.4% during the second quarter. Concurrent Investment Advisors LLC now owns 3,216 shares of the software maker's stock worth $394,000 after purchasing an additional 859 shares in the last quarter. NEOS Investment Management LLC boosted its holdings in shares of Workday by 12.5% in the 2nd quarter. NEOS Investment Management LLC now owns 160,695 shares of the software maker's stock valued at $19,672,000 after buying an additional 17,823 shares in the last quarter. Alamar Capital Management LLC grew its position in shares of Workday by 46.4% in the 2nd quarter. Alamar Capital Management LLC now owns 22,844 shares of the software maker's stock valued at $2,797,000 after buying an additional 7,241 shares during the last quarter. Nykredit A S acquired a new stake in Workday during the 2nd quarter worth $10,341,000. Finally, Comprehensive Financial Management LLC raised its stake in Workday by 1.6% during the 2nd quarter. Comprehensive Financial Management LLC now owns 97,724 shares of the software maker's stock worth $11,963,000 after acquiring an additional 1,530 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Stock Down 0.5%

Workday stock opened at $185.09 on Friday. The stock has a 50 day moving average of $170.84 and a two-hundred day moving average of $143.94. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $249.85. The stock has a market capitalization of $44.61 billion, a price-to-earnings ratio of 37.54, a PEG ratio of 1.88 and a beta of 1.08. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.61 by $0.14. Workday had a return on equity of 20.95% and a net margin of 12.32%.The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the previous year, the company posted $2.21 earnings per share. The company's revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, research analysts expect that Workday, Inc. will post 5.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WDAY. Summit Redstone set a $275.00 price objective on shares of Workday in a research note on Wednesday, May 27th. Needham & Company LLC lifted their target price on Workday from $180.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, August 28th. UBS Group set a $230.00 target price on Workday in a report on Friday, August 28th. Weiss Ratings raised Workday from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, August 13th. Finally, Piper Sandler upped their target price on Workday from $145.00 to $190.00 and gave the company a "neutral" rating in a research report on Friday, August 28th. Twenty research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $206.34.

Insider Activity

In other Workday news, insider Robert Enslin sold 5,374 shares of the business's 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 transaction, the insider directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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, major shareholder David Duffield sold 107,500 shares of the company's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $122.04, for a total transaction of $13,119,300.00. Following the transaction, the insider owned 105,049 shares of the company's stock, valued at approximately $12,820,179.96. The trade was a 50.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 738,096 shares of company stock valued at $106,054,737. Corporate insiders own 18.64% of the company's stock.

About Workday

Workday, Inc develops cloud-based enterprise software designed to help organizations manage finance, human resources and related business operations. Its platform provides tools for financial management, accounting, procurement, expenses, payroll, workforce management, recruiting, talent management, employee experience and enterprise planning.

The company also offers analytics, reporting and artificial intelligence capabilities that support budgeting, forecasting, workforce planning and business decision-making.

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