Workday, Inc. $WDAY Shares Bought by Advent International L.P.

Key Points

• Advent International L.P. significantly increased its stake in Workday, Inc. by 407.8% in the first quarter, acquiring an additional 23,450 shares to reach a total of 29,200 shares valued at approximately $6.82 million.
• Multiple institutional investors, including Generation Investment Management LLP and Royal Bank of Canada, have also raised their holdings in Workday, contributing to institutional ownership now at 89.81% of the company's stock.
• Workday's recent earnings exceeded consensus estimates, reporting $2.21 EPS and $2.35 billion in revenue for the quarter, demonstrating a 12.6% increase year-over-year.

Advent International L.P. grew its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 407.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,200 shares of the software maker's stock after buying an additional 23,450 shares during the quarter. Workday accounts for 0.2% of Advent International L.P.'s investment portfolio, making the stock its 19th largest holding. Advent International L.P.'s holdings in Workday were worth $6,819,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Workday by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 20,598,655 shares of the software maker's stock worth $4,810,404,000 after buying an additional 455,855 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Workday by 47.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker's stock valued at $879,147,000 after purchasing an additional 1,211,659 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Workday by 0.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,736,609 shares of the software maker's stock valued at $872,610,000 after purchasing an additional 14,354 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of 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 increased its holdings 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 purchasing an additional 548,694 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Insider Activity

In other Workday news, CFO Zane Rowe sold 6,000 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $239.59, for a total transaction of $1,437,540.00. Following the sale, the chief financial officer directly owned 178,418 shares of the company's stock, valued at $42,747,168.62. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mark S. Garfield sold 451 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $234.86, for a total transaction of $105,921.86. Following the sale, the chief accounting officer directly owned 42,977 shares in the company, valued at $10,093,578.22. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 318,380 shares of company stock valued at $76,586,604 over the last quarter. 19.31% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on WDAY shares. Wells Fargo & Company cut their price target on shares of Workday from $325.00 to $300.00 and set an "overweight" rating for the company in a report on Monday, August 18th. Wall Street Zen upgraded shares of Workday from a "hold" rating to a "buy" rating in a report on Sunday, July 13th. Loop Capital cut their price target on shares of Workday from $285.00 to $250.00 and set a "hold" rating for the company in a report on Friday, May 23rd. KeyCorp cut their price target on shares of Workday from $325.00 to $285.00 and set an "overweight" rating for the company in a report on Friday, August 22nd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $340.00 price target on shares of Workday in a report on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Workday presently has a consensus rating of "Moderate Buy" and a consensus price target of $286.81.

Workday Price Performance

NASDAQ WDAY traded down $2.30 during trading hours on Thursday, reaching $231.13. The company's stock had a trading volume of 2,226,795 shares, compared to its average volume of 3,924,129. The stock has a market cap of $61.71 billion, a PE ratio of 107.01, a PEG ratio of 3.25 and a beta of 1.12. Workday, Inc. has a fifty-two week low of $205.33 and a fifty-two week high of $294.00. The company's 50-day moving average is $230.64 and its two-hundred day moving average is $240.41. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.10 and a current ratio of 2.10.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Thursday, August 21st. The software maker reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $2.09 by $0.12. The firm had revenue of $2.35 billion for 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%. The firm's revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.75 EPS. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

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.