Toronto Dominion Bank Grows Position in Workday, Inc. (NASDAQ:WDAY)

Toronto Dominion Bank grew its position in Workday, Inc. (NASDAQ:WDAY) by 274.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,761 shares of the software maker’s stock after acquiring an additional 83,371 shares during the quarter. Toronto Dominion Bank’s holdings in Workday were worth $29,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Roxbury Financial LLC purchased a new position in shares of Workday in the fourth quarter valued at $25,000. Crews Bank & Trust bought a new position in Workday during the fourth quarter valued at $26,000. Avion Wealth grew its stake in shares of Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares in the last quarter. TCTC Holdings LLC bought a new stake in shares of Workday in the 4th quarter worth about $35,000. Finally, Rakuten Securities Inc. increased its holdings in shares of Workday by 78.6% in the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock worth $39,000 after buying an additional 66 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 497 shares of the business’s stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the completion of the transaction, the chief accounting officer now owns 34,385 shares in the company, valued at $7,789,921.75. The trade was a 1.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sayan Chakraborty sold 6,056 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $265.50, for a total value of $1,607,868.00. Following the completion of the sale, the insider now directly owns 111,324 shares of the company’s stock, valued at approximately $29,556,522. This represents a 5.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 321,724 shares of company stock valued at $77,976,126 over the last 90 days. Corporate insiders own 19.31% of the company’s stock.

Workday Stock Down 12.5%

NASDAQ:WDAY opened at $238.01 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The company has a 50-day moving average of $242.28 and a 200 day moving average of $254.06. The firm has a market cap of $63.31 billion, a PE ratio of 39.47, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.22. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the prior year, the company earned $1.74 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. As a group, research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on WDAY shares. Westpark Capital increased their price target on shares of Workday from $315.00 to $328.00 and gave the company a “buy” rating in a report on Friday. Mizuho lowered their price objective on Workday from $320.00 to $275.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. KeyCorp dropped their target price on Workday from $335.00 to $325.00 and set an “overweight” rating for the company in a report on Friday. UBS Group increased their price target on Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Finally, Citigroup lowered shares of Workday from a “neutral” rating to a “mixed” rating in a research note on Friday, May 16th. Nine equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $293.54.

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.