Fifth Third Bancorp Sells 1,946 Shares of Workday, Inc. $WDAY

Key Points

• Fifth Third Bancorp reduced its stake in Workday, Inc. by 16.9%, selling 1,946 shares during the second quarter, leaving it with 9,571 shares valued at approximately $2.3 million.
• A majority of Workday's stock, approximately 89.81%, is owned by institutional investors and hedge funds, highlighting strong institutional interest in the company.
• Analysts have a consensus rating of "Moderate Buy" for Workday, with a target price averaging around $287.83, reflecting confidence in the company's growth prospects.

Fifth Third Bancorp trimmed its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 16.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,571 shares of the software maker's stock after selling 1,946 shares during the period. Fifth Third Bancorp's holdings in Workday were worth $2,297,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its stake in Workday by 5.0% during 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 boosted its position in shares of Workday by 13.9% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,136 shares of the software maker's stock worth $265,000 after purchasing an additional 139 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Workday by 33.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 32,055 shares of the software maker's stock worth $7,486,000 after purchasing an additional 8,093 shares in the last quarter. Sowell Financial Services LLC bought a new position in shares of Workday during the 1st quarter worth about $290,000. Finally, D.A. Davidson & CO. boosted its position in shares of Workday by 27.8% during the 1st quarter. D.A. Davidson & CO. now owns 1,601 shares of the software maker's stock worth $374,000 after purchasing an additional 348 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an "overweight" rating and set a $265.00 price objective on shares of Workday in a research report on Wednesday, September 17th. TD Cowen decreased their target price on shares of Workday from $310.00 to $290.00 and set a "buy" rating for the company in a research report on Wednesday, September 17th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Workday from $330.00 to $280.00 and set a "buy" rating for the company in a research report on Friday, August 22nd. DA Davidson boosted their target price on shares of Workday from $225.00 to $260.00 and gave the stock a "neutral" rating in a research report on Friday, September 19th. Finally, UBS Group set a $304.00 target price on shares of Workday in a research report on Friday, August 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $287.83.

Workday Trading Up 1.6%

Shares of Workday stock opened at $246.67 on Friday. Workday, Inc. has a 52-week low of $205.33 and a 52-week high of $294.00. The stock's 50-day simple moving average is $230.13 and its 200 day simple moving average is $237.73. The stock has a market capitalization of $65.86 billion, a P/E ratio of 114.20, a P/E/G ratio of 3.20 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 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. Workday had a return on equity of 9.74% and a net margin of 6.51%.The business had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.34 billion. During the same period in the previous year, the business posted $1.75 EPS. The firm's quarterly revenue 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, research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Insiders Place Their Bets

In other Workday news, insider Richard Harry Sauer sold 1,160 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $235.41, for a total value of $273,075.60. Following the completion of the transaction, the insider owned 95,756 shares in the company, valued at $22,541,919.96. This trade represents a 1.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 78,564 shares of the firm's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $220.12, for a total value of $17,293,507.68. Following the completion of the transaction, the insider owned 102,997 shares of the company's stock, valued at approximately $22,671,699.64. This represents a 43.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 326,171 shares of company stock worth $76,432,560 over the last quarter. Insiders own 19.31% of the company's stock.

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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