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

Toronto Dominion Bank grew its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 33.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,390 shares of the software maker's stock after purchasing an additional 7,562 shares during the quarter. Toronto Dominion Bank's holdings in Workday were worth $7,428,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of WDAY. Swedbank AB increased its position in shares of Workday by 1.1% during the second quarter. Swedbank AB now owns 81,179 shares of the software maker's stock valued at $18,148,000 after acquiring an additional 863 shares during the last quarter. Blue Trust Inc. grew its position in Workday by 25.2% during the second quarter. Blue Trust Inc. now owns 1,661 shares of the software maker's stock valued at $371,000 after buying an additional 334 shares during the period. Raymond James & Associates increased its holdings in Workday by 6.6% during the second quarter. Raymond James & Associates now owns 462,862 shares of the software maker's stock worth $103,477,000 after buying an additional 28,750 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Workday by 55.7% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 1,152 shares of the software maker's stock worth $258,000 after acquiring an additional 412 shares during the period. Finally, First Horizon Advisors Inc. grew its position in shares of Workday by 87.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 547 shares of the software maker's stock valued at $122,000 after acquiring an additional 255 shares during the period. Hedge funds and other institutional investors own 89.81% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on WDAY. Morgan Stanley upped their price objective on Workday from $315.00 to $330.00 and gave the company an "overweight" rating in a research note on Wednesday, November 27th. KeyCorp upped their price target on Workday from $275.00 to $305.00 and gave the company an "overweight" rating in a research report on Friday, August 23rd. Oppenheimer reissued an "outperform" rating and issued a $300.00 price objective on shares of Workday in a report on Tuesday, December 3rd. Canaccord Genuity Group reiterated a "buy" rating and set a $300.00 target price on shares of Workday in a research report on Friday, September 13th. Finally, The Goldman Sachs Group boosted their price target on shares of Workday from $300.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $290.64.

Workday Trading Down 0.4 %

Shares of NASDAQ:WDAY traded down $1.15 on Friday, reaching $273.67. 2,889,102 shares of the company traded hands, compared to its average volume of 3,602,782. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The business's 50-day simple moving average is $253.74 and its 200 day simple moving average is $239.10. The stock has a market capitalization of $72.80 billion, a P/E ratio of 45.38, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 earnings per share. As a group, equities analysts anticipate that Workday, Inc. will post 2.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the sale, the director now owns 8,674 shares in the company, valued at approximately $2,097,806.90. This trade represents a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the completion of the transaction, the insider now owns 85,795 shares of the company's stock, valued at approximately $20,228,745.10. This trade represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 361,463 shares of company stock worth $88,422,088 in the last 90 days. Insiders own 20.00% of the company's stock.

Workday Company 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.