Harrell Investment Partners LLC Takes $545,000 Position in Workday, Inc. $WDAY

Key Points

• Harrell Investment Partners LLC acquired a new stake in Workday, Inc. valued at approximately $545,000 by purchasing 2,270 shares in the second quarter.
• Insider trading was notable as CEO Carl M. Eschenbach sold 6,250 shares of Workday stock, significantly decreasing his ownership by 80.94%.
• Analysts hold a generally positive outlook on Workday, with an average target price of $287.83, and ratings ranging from "Strong Buy" to "Hold" by multiple investment firms.

Harrell Investment Partners LLC acquired a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,270 shares of the software maker's stock, valued at approximately $545,000.

Other hedge funds also recently modified their holdings of the company. Cornerstone Planning Group LLC boosted its position in shares of Workday by 76.1% in the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock valued at $28,000 after acquiring an additional 54 shares during the period. Dagco Inc. bought a new stake in shares of Workday in the first quarter valued at approximately $31,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Workday in the first quarter valued at approximately $32,000. Financial Management Professionals Inc. boosted its position in shares of Workday by 54.0% in the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock valued at $36,000 after acquiring an additional 54 shares during the period. Finally, Pinnacle Bancorp Inc. bought a new stake in shares of Workday in the first quarter valued at approximately $40,000. 89.81% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $239.43, for a total value of $1,496,437.50. Following the completion of the sale, the chief executive officer directly owned 1,472 shares in the company, valued at approximately $352,440.96. This trade represents a 80.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Mark S. Garfield sold 451 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $234.86, for a total value of $105,921.86. Following the completion of the sale, the chief accounting officer owned 42,977 shares of the company's stock, valued at approximately $10,093,578.22. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,053 shares of company stock valued at $59,011,015. 19.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WDAY shares. Citigroup reduced their price objective on Workday from $279.00 to $260.00 and set a "neutral" rating for the company in a research report on Friday, August 22nd. Bank of America reduced their target price on Workday from $295.00 to $278.00 and set a "buy" rating for the company in a research report on Tuesday, August 19th. DA Davidson raised their target price on Workday from $225.00 to $260.00 and gave the stock a "neutral" rating in a research report on Friday, September 19th. Evercore ISI raised their target price on Workday from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 17th. Finally, Wall Street Zen raised Workday from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $287.83.

Workday Stock Performance

Workday stock opened at $241.51 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a fifty day moving average price of $229.63 and a two-hundred day moving average price of $237.71. Workday, Inc. has a 52-week low of $205.33 and a 52-week high of $294.00. The firm has a market capitalization of $64.48 billion, a P/E ratio of 111.81, a P/E/G ratio of 3.16 and a beta of 1.12.

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, topping the consensus estimate of $2.09 by $0.12. Workday had a return on equity of 9.74% and a net margin of 6.51%.The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the company posted $1.75 earnings per share. The business'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, analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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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