Eventide Asset Management LLC Lowers Stock Holdings in Workday, Inc. $WDAY

Key Points

• Eventide Asset Management LLC has reduced its holdings in Workday, Inc. by 54.1%, owning 139,546 shares after selling 164,146 shares in the first quarter.
• Wall Street analysts have given Workday a consensus rating of "Moderate Buy", with an average price target of $286.81, following various ratings and target adjustments from multiple firms.
• Workday reported a quarterly earnings per share of $2.21, exceeding estimates, and had a revenue growth of 12.6% compared to the same quarter last year.

Eventide Asset Management LLC reduced its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 54.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 139,546 shares of the software maker's stock after selling 164,146 shares during the period. Eventide Asset Management LLC owned approximately 0.05% of Workday worth $32,609,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of WDAY. Brighton Jones LLC increased its holdings in Workday by 230.2% in the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock valued at $1,033,000 after acquiring an additional 2,792 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Workday by 24.0% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,075 shares of the software maker's stock valued at $793,000 after acquiring an additional 595 shares during the last quarter. Aptus Capital Advisors LLC bought a new stake in Workday in the 4th quarter valued at $235,000. Ameriprise Financial Inc. increased its holdings in Workday by 12.6% in the 4th quarter. Ameriprise Financial Inc. now owns 273,927 shares of the software maker's stock valued at $70,689,000 after acquiring an additional 30,697 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in Workday by 11.2% in the 4th quarter. Benjamin Edwards Inc. now owns 1,571 shares of the software maker's stock valued at $405,000 after acquiring an additional 158 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of research reports. UBS Group set a $304.00 price target on shares of Workday in a report on Friday, August 22nd. Piper Sandler reduced their target price on shares of Workday from $235.00 to $220.00 and set an "underweight" rating on the stock in a report on Friday, August 22nd. Morgan Stanley set a $255.00 target price on shares of Workday and gave the stock an "equal weight" rating in a report on Friday, May 23rd. JPMorgan Chase & Co. reduced their target price on shares of Workday from $295.00 to $290.00 and set an "overweight" rating on the stock in a report on Friday, August 22nd. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $340.00 target price on shares of Workday in a report on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $286.81.

Workday Trading Down 0.0%

Shares of WDAY stock traded down $0.05 during trading hours on Friday, reaching $231.08. 3,525,278 shares of the stock were exchanged, compared to its average volume of 3,855,587. Workday, Inc. has a 12-month low of $205.33 and a 12-month high of $294.00. 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 company's 50-day moving average price is $230.52 and its 200-day moving average price is $240.03. The firm has a market capitalization of $61.70 billion, a price-to-earnings ratio of 106.98, a price-to-earnings-growth ratio of 3.22 and a beta of 1.12.

Workday (NASDAQ:WDAY - Get Free Report) last released 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. Workday had a net margin of 6.51% and a return on equity of 9.74%. The firm had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.34 billion. During the same period in the previous year, the company earned $1.75 EPS. The firm's revenue for the quarter was up 12.6% compared to the same quarter last year. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, equities analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 72,551 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $239.61, for a total value of $17,383,945.11. Following the completion of the sale, the insider directly owned 102,997 shares of the company's stock, valued at $24,679,111.17. The trade was a 41.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the completion of the sale, the chief executive officer directly owned 1,472 shares of the company's stock, valued at approximately $352,440.96. This trade represents a 80.94% 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 in the last quarter. Corporate insiders own 19.31% of the company's stock.

About Workday

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.