Grimes & Company Inc. Buys Shares of 29,245 Workday, Inc. $WDAY

Key Points

• Grimes & Company Inc. acquired 29,245 shares of Workday, Inc. (NASDAQ:WDAY) in Q2, valued at approximately $7,019,000.
• Insider activity includes CEO Carl M. Eschenbach selling 6,250 shares, marking a 23.61% decrease in ownership.
• A consensus target price of $287.83 has been set for Workday, with analysts rating it as a "Moderate Buy."

Grimes & Company Inc. purchased a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 29,245 shares of the software maker's stock, valued at approximately $7,019,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Janney Montgomery Scott LLC grew its position in shares of Workday by 5.0% during the 1st 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 during the period. Kingswood Wealth Advisors LLC boosted its stake in 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 acquiring an additional 139 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Workday by 33.8% during the first quarter. Nisa Investment Advisors LLC now owns 32,055 shares of the software maker's stock valued at $7,486,000 after purchasing an additional 8,093 shares during the period. Chicago Capital LLC grew its holdings in Workday by 2.2% during the second quarter. Chicago Capital LLC now owns 175,802 shares of the software maker's stock valued at $42,193,000 after purchasing an additional 3,824 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in Workday by 21.1% in the second quarter. State of Alaska Department of Revenue now owns 30,370 shares of the software maker's stock valued at $7,288,000 after purchasing an additional 5,300 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

Insider Activity

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $237.52, for a total value of $1,484,500.00. Following the transaction, the chief executive officer directly owned 20,222 shares in the company, valued at $4,803,129.44. The trade was a 23.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $273,075.60. Following the sale, the insider owned 95,756 shares of the company's stock, valued at approximately $22,541,919.96. This represents a 1.20% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 253,254 shares of company stock valued at $58,996,376. 20.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on WDAY shares. JPMorgan Chase & Co. reduced their price target on shares of Workday from $295.00 to $290.00 and set an "overweight" rating on the stock in a research report on Friday, August 22nd. Needham & Company LLC reiterated a "buy" rating and set a $300.00 target price on shares of Workday in a report on Wednesday, September 17th. Citigroup lowered their price target on Workday from $279.00 to $260.00 and set a "neutral" rating for the company in a report on Friday, August 22nd. Evercore ISI raised their price target on Workday from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 17th. Finally, Oppenheimer decreased their price objective on Workday from $300.00 to $270.00 and set an "outperform" rating for the company in a research report on Friday, August 22nd. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $287.83.

Workday Stock Performance

NASDAQ WDAY opened at $236.48 on Monday. The firm has a market capitalization of $63.14 billion, a P/E ratio of 109.48, a price-to-earnings-growth ratio of 2.95 and a beta of 1.10. 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 firm's fifty day moving average price is $230.06 and its two-hundred day moving average price is $237.28. Workday, Inc. has a 1 year low of $205.33 and a 1 year high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last released 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 company had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.34 billion. During the same period last year, the firm posted $1.75 earnings per share. The business's revenue was up 12.6% on a year-over-year basis. 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.

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.

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