Allspring Global Investments Holdings LLC Sells 19,071 Shares of Workday, Inc. $WDAY

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Workday, Inc. by 9.0%, selling 19,071 shares and now holding approximately 193,888 shares valued at $46.38 million.
• Workday reported $2.21 EPS for its latest quarter, exceeding analysts' expectations, and generated $2.35 billion in revenue, up 12.6% year-over-year.
• Institutional investors now own 89.81% of Workday's stock, while several analysts have adjusted their price targets for the stock, with an average target price of $287.83.

Allspring Global Investments Holdings LLC decreased its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 9.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 193,888 shares of the software maker's stock after selling 19,071 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.07% of Workday worth $46,384,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDAY. Private Trust Co. NA grew its position in shares of Workday by 15.2% in the 1st quarter. Private Trust Co. NA now owns 318 shares of the software maker's stock valued at $74,000 after buying an additional 42 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Workday by 15.0% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 353 shares of the software maker's stock worth $82,000 after buying an additional 46 shares during the period. AE Wealth Management LLC raised its stake in shares of Workday by 0.4% in the first quarter. AE Wealth Management LLC now owns 11,896 shares of the software maker's stock worth $2,778,000 after purchasing an additional 46 shares during the last quarter. Bristlecone Advisors LLC raised its stake in shares of Workday by 1.6% in the first quarter. Bristlecone Advisors LLC now owns 2,968 shares of the software maker's stock worth $693,000 after purchasing an additional 47 shares during the last quarter. Finally, Equitable Trust Co. raised its stake in shares of Workday by 4.0% in the first quarter. Equitable Trust Co. now owns 1,257 shares of the software maker's stock worth $294,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

Workday Price Performance

Shares of WDAY opened at $237.18 on Wednesday. The firm has a market cap of $63.33 billion, a PE ratio of 109.81, a P/E/G ratio of 2.95 and a beta of 1.10. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $230.82 and a two-hundred day simple moving average of $236.81. Workday, Inc. has a 1-year low of $205.33 and a 1-year high of $294.00.

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

Insider Buying and Selling

In related news, insider Richard Harry Sauer sold 2,320 shares of the stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $235.87, for a total value of $547,218.40. Following the sale, the insider directly owned 90,077 shares of the company's stock, valued at $21,246,461.99. This represents a 2.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 1,915 shares of the firm's stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $238.96, for a total transaction of $457,608.40. Following the transaction, the chief accounting officer directly owned 37,351 shares in the company, valued at approximately $8,925,394.96. This trade represents a 4.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 264,933 shares of company stock worth $61,475,760 over the last three months. 20.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on WDAY shares. UBS Group set a $304.00 price objective on Workday in a research report on Friday, August 22nd. JPMorgan Chase & Co. cut their price target on Workday from $295.00 to $290.00 and set an "overweight" rating for the company in a report on Friday, August 22nd. Evercore ISI increased their price objective on Workday from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 17th. Guggenheim upgraded Workday from a "neutral" rating to a "buy" rating and set a $285.00 price target on the stock in a research report on Wednesday, September 17th. Finally, Wells Fargo & Company lowered their price target on Workday from $325.00 to $300.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $287.83.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.