Brasada Capital Management LP Purchases Shares of 2,918 Workday, Inc. $WDAY

Key Points

• Brasada Capital Management LP acquired 2,918 shares of Workday, Inc., valued at approximately $681,000, highlighting ongoing institutional interest in the software maker.
• Insider transactions revealed that CEO Carl M. Eschenbach sold 6,250 shares, decreasing his ownership by 80.94%, while Director George J. Still, Jr. also sold 7,500 shares, marking a 10.00% reduction in his stake.
• Analysts have lowered their price targets for Workday, with Canaccord Genuity cutting its target from $330.00 to $275.00, indicating a shift in market sentiment despite solid quarterly earnings performance.

Brasada Capital Management LP purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,918 shares of the software maker's stock, valued at approximately $681,000.

Several other large investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its holdings in shares of Workday by 5.0% in the first quarter. Janney Montgomery Scott LLC now owns 22,645 shares of the software maker's stock worth $5,288,000 after buying an additional 1,070 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in shares of Workday by 13.9% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,136 shares of the software maker's stock worth $265,000 after buying an additional 139 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Workday by 33.8% in the first quarter. Nisa Investment Advisors LLC now owns 32,055 shares of the software maker's stock worth $7,486,000 after buying an additional 8,093 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in Workday during the first quarter valued at $290,000. Finally, D.A. Davidson & CO. raised its stake in Workday by 27.8% during the first quarter. D.A. Davidson & CO. now owns 1,601 shares of the software maker's stock valued at $374,000 after purchasing an additional 348 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Insider Transactions at Workday

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total value of $1,496,437.50. Following the transaction, the chief executive officer directly owned 1,472 shares in the company, valued at approximately $352,440.96. This represents a 80.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the completion of the transaction, the director owned 67,500 shares in the company, valued at approximately $16,767,675. The trade was a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 325,880 shares of company stock valued at $78,449,679. Company insiders own 19.31% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Canaccord Genuity Group decreased their price target on shares of Workday from $330.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, August 22nd. JPMorgan Chase & Co. decreased their price target on shares of Workday from $295.00 to $290.00 and set an "overweight" rating on the stock in a research note on Friday, August 22nd. Stifel Nicolaus decreased their price target on shares of Workday from $275.00 to $255.00 and set a "hold" rating on the stock in a research note on Friday, August 22nd. Wall Street Zen raised shares of Workday from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $340.00 price target on shares of Workday in a research note on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Workday presently has a consensus rating of "Moderate Buy" and a consensus target price of $286.81.

Workday Trading Up 1.0%

NASDAQ WDAY opened at $230.82 on Friday. The company's 50-day moving average price is $231.09 and its 200-day moving average price is $241.17. The company has a current ratio of 2.10, a quick ratio of 2.07 and a debt-to-equity ratio of 0.33. The stock has a market cap of $61.63 billion, a PE ratio of 106.86, a PEG ratio of 3.38 and a beta of 1.24. Workday, Inc. has a 12 month low of $205.33 and a 12 month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results on Thursday, August 21st. The software maker reported $2.21 EPS for the quarter, topping 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 business's revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.75 earnings per share. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Equities research analysts forecast that Workday, Inc. will post 2.63 earnings per share 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.

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