First Citizens Bank & Trust Co. Purchases New Stake in Workday, Inc. $WDAY

Key Points

• First Citizens Bank & Trust Co. acquired 6,493 Workday shares worth approximately $1.24 million during the third quarter. Institutional investors collectively own 89.81% of the company.
• Workday reported quarterly earnings of $2.75 per share, exceeding estimates of $2.61, while revenue rose 12.8% year over year to $2.65 billion.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $205.03. Meanwhile, major shareholder David Duffield sold about $18.7 million in stock under a pre-arranged trading plan.

First Citizens Bank & Trust Co. acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,493 shares of the software maker's stock, valued at approximately $1,237,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC boosted its stake in shares of Workday by 55.9% during the 3rd quarter. CoreCap Advisors LLC now owns 173 shares of the software maker's stock valued at $33,000 after buying an additional 62 shares during the period. Western Wealth Management LLC purchased a new position in shares of Workday during the 1st quarter valued at $39,000. Reflection Asset Management purchased a new position in shares of Workday during the 4th quarter valued at $66,000. Manning & Napier Advisors LLC purchased a new position in shares of Workday during the 2nd quarter valued at $42,000. Finally, GK Wealth Management LLC acquired a new position in shares of Workday in the third quarter worth $72,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Price Performance

NASDAQ WDAY opened at $196.63 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $47.39 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 1.79 and a beta of 1.07. The company has a 50 day moving average price of $191.55 and a two-hundred day moving average price of $153.40. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $247.40.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, topping the consensus estimate of $2.61 by $0.14. Workday had a net margin of 12.32% and a return on equity of 20.95%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the previous year, the firm posted $2.21 earnings per share. The company's revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, equities analysts predict that Workday, Inc. will post 5.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several recent research reports. Freedom Broker lowered Workday from a "buy" rating to a "hold" rating and increased their price objective for the stock from $180.00 to $200.00 in a report on Friday, August 28th. TD Cowen reduced their price objective on Workday from $220.00 to $210.00 and set a "hold" rating for the company in a research report on Friday, August 28th. UBS Group set a $175.00 target price on Workday in a research note on Thursday. Canaccord Genuity Group boosted their target price on Workday from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Tuesday, August 25th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Workday in a research report on Wednesday, September 30th. Nineteen research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Workday presently has an average rating of "Hold" and a consensus price target of $205.03.

Insider Buying and Selling at Workday

In related news, major shareholder David Duffield sold 100,780 shares of Workday stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $185.64, for a total value of $18,708,799.20. Following the completion of the sale, the insider owned 105,049 shares of the company's stock, valued at approximately $19,501,296.36. The trade was a 48.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 988,104 shares of company stock worth $188,811,574. 18.64% of the stock is currently owned by company insiders.

Key Headlines Impacting Workday

Here are the key news stories impacting Workday this week:

• Positive Sentiment: BTIG said Workday’s “agentic AI” push should benefit from an impressive investor day. New offerings—including expanded Sana capabilities, Decision Intelligence, Work Intelligence and a Trusted Agent Platform—could strengthen customer retention and create additional monetization opportunities. BTIG Workday investor-day analysis
• Positive Sentiment: Workday’s collaboration with Anthropic will connect Claude’s reasoning capabilities with Workday’s Sana agents, governed data and business rules. The arrangement could improve Workday’s competitive position in enterprise AI by enabling users to find information, take actions and approve work through either platform. Workday Anthropic partnership
• Positive Sentiment: A new Candidate Profile feature lets applicants save information for reuse across Workday-powered applications, potentially improving the recruiting experience and increasing the platform’s value to employers. Workday Candidate Profile announcement
• Neutral Sentiment: Analyst opinions remain divided. Stifel raised its price target from $160 to $175 but maintained a Hold rating, while UBS lowered its target from $220 to $210 and kept a Neutral rating. Both targets indicate limited conviction at current valuation levels. Stifel Workday price target
• Negative Sentiment: Investors remain concerned that sales growth is decelerating. Management continues to forecast double-digit revenue growth, but the market wants evidence that AI investments will translate into stronger bookings and financial results. Workday growth outlook
• Negative Sentiment: Major shareholder David Duffield sold approximately $18.7 million of Workday stock, and Chief Accounting Officer Mark Garfield sold about $174,000. Both transactions were made under pre-arranged Rule 10b5-1 plans, reducing their signaling value, though the sales may still weigh on sentiment. Workday insider sales

Workday Profile

Workday, Inc develops cloud-based enterprise software for managing an organization's people, finances and operations. Its platform is primarily used by businesses, government agencies and educational institutions to support human resources, finance, planning, analytics and related administrative processes.

The company's offerings include Workday Human Capital Management, Financial Management, Adaptive Planning, Spend Management, payroll, recruiting, talent management, learning and workforce analytics.

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