Workday, Inc. $WDAY Stake Raised by Crescent Park Management L.P.

Key Points

• Crescent Park Management L.P. acquired 2,450 shares of Workday, increasing its holdings by 6.2%, making Workday the 10th largest position in their portfolio.
• Institutional investors control 89.81% of Workday’s stock, with several hedge funds significantly increasing their stakes in the first quarter of 2023.
• Workday's latest quarterly earnings beat expectations, reporting $2.21 EPS and $2.35 billion in revenue, with a year-over-year revenue growth of 12.6%.

Crescent Park Management L.P. grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 6.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,230 shares of the software maker's stock after acquiring an additional 2,450 shares during the quarter. Workday comprises 4.6% of Crescent Park Management L.P.'s investment portfolio, making the stock its 10th largest position. Crescent Park Management L.P.'s holdings in Workday were worth $9,862,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Workday by 2.3% in the first quarter. Vanguard Group Inc. now owns 20,598,655 shares of the software maker's stock worth $4,810,404,000 after acquiring an additional 455,855 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in 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 worth $879,147,000 after acquiring an additional 1,211,659 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Workday by 60.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock worth $960,454,000 after acquiring an additional 1,406,088 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of Workday by 1.5% during the fourth quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker's stock valued at $911,027,000 after acquiring an additional 52,104 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Workday by 6.6% during the first quarter. Northern Trust Corp now owns 2,413,712 shares of the software maker's stock valued at $563,674,000 after acquiring an additional 149,731 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insider Transactions at Workday

In other Workday news, CFO Zane Rowe sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $239.59, for a total transaction of $1,437,540.00. Following the completion of the transaction, the chief financial officer owned 178,418 shares of the company's stock, valued at $42,747,168.62. This represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the firm's stock in a transaction that occurred on 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 directly owned 67,500 shares in the company, valued at $16,767,675. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 325,880 shares of company stock valued at $78,449,679 over the last quarter. Company insiders own 20.00% of the company's stock.

Wall Street Analysts Forecast Growth

WDAY has been the subject of a number of recent analyst reports. Loop Capital decreased their target price on Workday from $285.00 to $250.00 and set a "hold" rating for the company in a report on Friday, May 23rd. Canaccord Genuity Group cut their target price on shares of Workday from $330.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday. Barclays reduced their price target on Workday from $321.00 to $298.00 and set an "overweight" rating on the stock in a research note on Monday, August 18th. Cantor Fitzgerald set a $265.00 price objective on Workday in a research report on Thursday, August 14th. Finally, Citigroup reduced their target price on shares of Workday from $279.00 to $260.00 and set a "neutral" rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $286.81.

Workday Price Performance

WDAY stock traded down $0.51 during mid-day trading on Tuesday, hitting $222.88. The company had a trading volume of 4,795,537 shares, compared to its average volume of 2,481,551. The company has a 50-day moving average price of $231.94 and a 200 day moving average price of $241.89. Workday, Inc. has a 12-month low of $205.33 and a 12-month high of $294.00. The company has a market capitalization of $59.51 billion, a price-to-earnings ratio of 103.19, a P/E/G ratio of 3.34 and a beta of 1.24. The company has a quick ratio of 2.07, a current ratio of 2.10 and a debt-to-equity ratio of 0.33.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 6.51% and a return on equity of 9.74%. The business's revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the business earned $1.75 EPS. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, research analysts anticipate 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.