Workday, Inc. $WDAY Shares Acquired by Horizon Investments LLC

Key Points

• Horizon Investments LLC significantly increased its stake in Workday, Inc. by 370.1%, holding 14,805 shares worth approximately $3.46 million after acquiring additional shares in the first quarter.
• Despite a solid earnings report showing a 12.6% increase in revenue year-over-year, several analysts have adjusted their price targets for Workday, with consensus rating at "Moderate Buy" and an average target of around $294.31.
• Insider trading activities saw CFO Zane Rowe and Director George J. Still, Jr. sell significant shares, resulting in decreases of 3.25% and 10.00% in their respective positions.

Horizon Investments LLC boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 370.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,805 shares of the software maker's stock after acquiring an additional 11,656 shares during the quarter. Horizon Investments LLC's holdings in Workday were worth $3,457,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Fox Run Management L.L.C. purchased a new position in Workday during the first quarter valued at approximately $1,741,000. Kovitz Investment Group Partners LLC raised its position in Workday by 406.5% during the first quarter. Kovitz Investment Group Partners LLC now owns 7,587 shares of the software maker's stock valued at $1,772,000 after acquiring an additional 6,089 shares in the last quarter. OneAscent Investment Solutions LLC purchased a new position in Workday during the first quarter valued at approximately $463,000. Vestmark Advisory Solutions Inc. raised its position in Workday by 78.4% during the first quarter. Vestmark Advisory Solutions Inc. now owns 10,322 shares of the software maker's stock valued at $2,410,000 after acquiring an additional 4,536 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its position in Workday by 3.6% during the first quarter. Neuberger Berman Group LLC now owns 718,452 shares of the software maker's stock valued at $167,780,000 after acquiring an additional 24,868 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $248.41, for a total value of $1,863,075.00. Following the completion of the sale, the director directly owned 67,500 shares in the company, valued at $16,767,675. This represents a 10.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 72,551 shares of the company's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $239.61, for a total value of $17,383,945.11. Following the completion of the sale, the insider owned 102,997 shares of the company's stock, valued at approximately $24,679,111.17. The trade was a 41.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 329,005 shares of company stock worth $79,203,523 over the last quarter. Corporate insiders own 20.00% of the company's stock.

Analysts Set New Price Targets

WDAY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on Workday from $310.00 to $295.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Morgan Stanley set a $255.00 price objective on shares of Workday and gave the stock an "equal weight" rating in a research report on Friday, May 23rd. DA Davidson increased their price objective on shares of Workday from $230.00 to $250.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Cantor Fitzgerald set a $265.00 price objective on shares of Workday in a report on Thursday, August 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $300.00 price objective on shares of Workday in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $292.92.

Workday Price Performance

Shares of WDAY traded down $0.8410 during trading hours on Wednesday, hitting $228.9490. 1,667,085 shares of the stock were exchanged, compared to its average volume of 2,374,174. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. Workday, Inc. has a 12-month low of $205.33 and a 12-month high of $294.00. The company has a market cap of $61.13 billion, a price-to-earnings ratio of 126.57, a price-to-earnings-growth ratio of 3.50 and a beta of 1.24. The stock's 50-day moving average price is $233.79 and its two-hundred day moving average price is $243.31.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping the consensus estimate of $2.01 by $0.22. Workday had a return on equity of 8.00% and a net margin of 5.60%.The firm had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.22 billion. During the same period in the previous year, the business earned $1.74 earnings per share. The firm's revenue for the quarter was up 12.6% on a year-over-year basis. Workday has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. Research analysts expect that Workday, Inc. will post 2.63 earnings per share 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.