Advisors Capital Management LLC Takes $534,000 Position in Workday, Inc. $WDAY

Key Points

• Advisors Capital Management LLC has acquired a new stake in Workday, Inc., purchasing 2,286 shares valued at approximately $534,000 in the first quarter of the year.
• Insider trading activity reveals that CFO Zane Rowe sold 6,000 shares, marking a 3.25% decrease in his holdings, while other executives also made smaller sales.
• Workday reported earnings of $2.21 per share for the most recent quarter, surpassing analysts' estimates and reflecting a 12.6% year-over-year revenue growth.

Advisors Capital Management LLC purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 2,286 shares of the software maker's stock, valued at approximately $534,000.

A number of other hedge funds have also recently made changes to their positions in WDAY. Cornerstone Planning Group LLC grew its position in shares of Workday by 76.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock valued at $28,000 after purchasing an additional 54 shares in the last quarter. Dagco Inc. purchased a new position in shares of Workday during the 1st quarter valued at $31,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Workday during the 1st quarter valued at $32,000. Financial Management Professionals Inc. grew its position in shares of Workday by 54.0% during the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock valued at $36,000 after purchasing an additional 54 shares in the last quarter. Finally, Pinnacle Bancorp Inc. purchased a new position in shares of Workday during the 1st quarter valued at $40,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Workday

In related news, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction on 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 transaction, the chief financial officer owned 178,418 shares in the company, valued at approximately $42,747,168.62. The trade was a 3.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark S. Garfield sold 451 shares of Workday stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $234.86, for a total transaction of $105,921.86. Following the transaction, the chief accounting officer owned 42,977 shares in the company, valued at approximately $10,093,578.22. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 318,380 shares of company stock worth $76,586,604. 19.31% of the stock is owned by insiders.

Workday Price Performance

Shares of WDAY opened at $223.39 on Friday. Workday, Inc. has a fifty-two week low of $205.33 and a fifty-two week high of $294.00. The firm's 50-day simple moving average is $229.28 and its two-hundred day simple moving average is $238.87. The stock has a market cap of $59.65 billion, a PE ratio of 103.42, a price-to-earnings-growth ratio of 3.16 and a beta of 1.12. 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 announced its earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share for the quarter, beating analysts' consensus estimates of $2.09 by $0.12. Workday had a net margin of 6.51% and a return on equity of 9.74%. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter last year, the firm earned $1.75 earnings per share. The business's revenue for the quarter was up 12.6% on a year-over-year basis. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WDAY has been the subject of a number of recent analyst reports. Cantor Fitzgerald upgraded shares of Workday to a "strong-buy" rating in a research report on Thursday. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $304.00 price objective on shares of Workday in a report on Friday, August 22nd. Morgan Stanley set a $255.00 price objective on shares of Workday and gave the stock an "equal weight" rating in a report on Friday, May 23rd. Wall Street Zen raised shares of Workday from a "hold" rating to a "buy" rating in a report on Sunday, July 13th. Finally, Wells Fargo & Company dropped their price objective 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. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Workday currently has a consensus rating of "Moderate Buy" and an average target price of $286.81.

Workday 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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