Fort Washington Investment Advisors Inc. OH Purchases 91,900 Shares of Workday, Inc. $WDAY

Key Points

• Fort Washington Investment Advisors increased its Workday stake by 21.6% in the first quarter, buying 91,900 additional shares and bringing its holdings to 517,349 shares worth about $67.2 million.
• Workday reported better-than-expected quarterly results, with EPS of $2.66 versus the $2.51 consensus and revenue of $2.54 billion, up 13.5% year over year.
• Sentiment around the stock remains mixed: several analysts have upgraded or reiterated buy ratings, but Workday also faces an AI bias lawsuit and recent insider selling has drawn attention.

Fort Washington Investment Advisors Inc. OH raised its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 21.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 517,349 shares of the software maker's stock after purchasing an additional 91,900 shares during the period. Fort Washington Investment Advisors Inc. OH owned 0.20% of Workday worth $67,214,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in WDAY. First Eagle Investment Management LLC bought a new position in shares of Workday in the third quarter worth approximately $556,252,000. Norges Bank bought a new stake in Workday during the fourth quarter valued at approximately $448,804,000. Harvest Fund Management Co. Ltd grew its stake in Workday by 40.1% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker's stock worth $11,943,000 after buying an additional 15,903 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Workday by 18.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker's stock worth $122,804,000 after buying an additional 88,384 shares in the last quarter. Finally, Morningstar Investment Management LLC increased its holdings in shares of Workday by 127.2% in the 4th quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker's stock worth $5,808,000 after buying an additional 15,138 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Performance

NASDAQ:WDAY opened at $124.21 on Friday. The firm has a market cap of $30.68 billion, a PE ratio of 38.82, a price-to-earnings-growth ratio of 1.33 and a beta of 1.09. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. The business has a 50 day moving average price of $127.46 and a 200-day moving average price of $153.11.

Workday (NASDAQ:WDAY - Get Free Report) last issued its earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm earned $2.23 earnings per share. The firm's revenue for the quarter was up 13.5% on a year-over-year basis. Equities research analysts predict that Workday, Inc. will post 5.34 earnings per share for the current year.

Key Headlines Impacting Workday

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Investors appear to be re-rating Workday after its latest quarterly results showed solid revenue growth, stronger-than-expected earnings, and an increased full-year operating margin outlook, reinforcing confidence in the company’s execution and demand trends.
• Positive Sentiment: Workday’s AI and data-platform efforts are helping sentiment, including its AWS Data Cloud integration and broader AI product push, which may support future growth as enterprises spend more on AI-enabled software.
• Positive Sentiment: A market rotation into software has also lifted shares, with investors favoring names like Workday over semiconductors in the latest move across the market.
• Positive Sentiment: Wall Street sentiment has improved, highlighted by Monness Crespi & Hardt upgrading Workday to buy with a $150 price target, adding to a generally constructive analyst backdrop.
• Neutral Sentiment: Recent insider selling by major shareholder David Duffield was disclosed under a pre-arranged trading plan, which may limit its significance for day-to-day trading but is still something investors may watch.
• Negative Sentiment: Workday continues to face a lawsuit tied to alleged AI bias in job-screening tools, creating a legal overhang that could temper enthusiasm if the case escalates.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WDAY. Loop Capital set a $210.00 price objective on shares of Workday in a research report on Thursday, March 12th. Needham & Company LLC reduced their target price on Workday from $300.00 to $180.00 and set a "buy" rating on the stock in a research note on Friday, May 22nd. BTIG Research restated a "buy" rating and set a $175.00 price target on shares of Workday in a research report on Monday, May 18th. Weiss Ratings reissued a "sell (d+)" rating on shares of Workday in a report on Wednesday, June 17th. Finally, Barclays raised shares of Workday from an "overweight" rating to a "buy" rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Workday has an average rating of "Moderate Buy" and an average price target of $184.00.

Insider Activity at Workday

In related news, insider Robert Enslin sold 5,373 shares of the firm's stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $129.41, for a total value of $695,319.93. Following the sale, the insider directly owned 165,414 shares of the company's stock, valued at $21,406,225.74. This trade represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Mark S. Garfield sold 1,585 shares of Workday stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $113.05, for a total value of $179,184.25. Following the completion of the sale, the chief accounting officer owned 31,467 shares in the company, valued at approximately $3,557,344.35. This represents a 4.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 774,814 shares of company stock valued at $99,846,591 in the last quarter. 18.64% of the stock is currently owned by company insiders.

Workday Company Profile

Workday, Inc NASDAQ: WDAY is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday's platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company's product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.

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