Acadian Asset Management LLC Cuts Stock Holdings in Workday, Inc. $WDAY

Key Points

• Acadian Asset Management LLC has drastically reduced its holdings in Workday, Inc. by 85.6%, selling 65,707 shares during the first quarter, leaving it with 11,019 shares valued at $2.57 million.
• Other institutional investors have also increased their stakes in Workday, with Cornerstone Planning Group LLC growing its holdings by 76.1% in the same quarter.
• Workday recently reported quarterly earnings of $2.21 per share, surpassing analyst expectations, with revenue increasing by 12.6% year-over-year.

Acadian Asset Management LLC decreased its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 85.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,019 shares of the software maker's stock after selling 65,707 shares during the quarter. Acadian Asset Management LLC's holdings in Workday were worth $2,570,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC grew its holdings in shares of Workday by 76.1% during the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock valued at $28,000 after buying an additional 54 shares during the last quarter. Dagco Inc. purchased a new stake in shares of Workday during the first quarter valued at $31,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Workday during the first quarter valued at $32,000. Financial Management Professionals Inc. boosted its position in shares of Workday by 54.0% during the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock valued at $36,000 after buying an additional 54 shares during the last quarter. Finally, Pinnacle Bancorp Inc. purchased a new stake in shares of Workday during the first quarter valued at $40,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Workday Stock Performance

NASDAQ WDAY opened at $222.75 on Tuesday. The firm has a market cap of $59.47 billion, a price-to-earnings ratio of 103.13, a price-to-earnings-growth ratio of 3.11 and a beta of 1.12. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average price of $228.91 and a 200-day moving average price of $238.43. Workday, Inc. has a twelve month low of $205.33 and a twelve month high of $294.00.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WDAY shares. Deutsche Bank Aktiengesellschaft dropped their price objective on Workday from $330.00 to $280.00 and set a "buy" rating on the stock in a research report on Friday, August 22nd. BMO Capital Markets dropped their price objective on Workday from $314.00 to $285.00 and set an "outperform" rating on the stock in a research report on Friday, August 22nd. Stifel Nicolaus dropped their price objective on Workday from $275.00 to $255.00 and set a "hold" rating on the stock in a research report on Friday, August 22nd. Loop Capital dropped their price objective on Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a research report on Friday, May 23rd. Finally, Guggenheim reissued a "neutral" rating on shares of Workday in a report on Friday, August 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Workday currently has an average rating of "Moderate Buy" and an average target price of $286.81.

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 451 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $234.86, for a total value of $105,921.86. Following the sale, the chief accounting officer directly owned 42,977 shares in the company, valued at approximately $10,093,578.22. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $239.59, for a total value of $1,437,540.00. Following the completion of the sale, the chief financial officer owned 178,418 shares in the company, valued at $42,747,168.62. This represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 233,300 shares of company stock valued at $55,764,900 in the last ninety days. Company 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.

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