Hyperion Asset Management Ltd Buys 33,084 Shares of Workday, Inc. $WDAY

Key Points

• Hyperion Asset Management Ltd increased its stake in Workday, Inc. by 5.8%, acquiring an additional 33,084 shares to hold a total of 603,395 shares valued at approximately $144.8 million, making it the fund's 10th largest holding.
• Multiple analyst firms have adjusted their price targets for Workday, with revisions ranging from a decrease by Bank of America to a buy rating, leading to a consensus rating of "Moderate Buy" and an average target price of $287.83.
• Insider selling activity was notable, with major shareholder David A. Duffield selling 78,564 shares for over $17 million, resulting in a significant reduction of his position by 43.27%.

Hyperion Asset Management Ltd lifted its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 603,395 shares of the software maker's stock after acquiring an additional 33,084 shares during the quarter. Workday makes up 4.5% of Hyperion Asset Management Ltd's portfolio, making the stock its 10th biggest holding. Hyperion Asset Management Ltd owned 0.23% of Workday worth $144,815,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on WDAY shares. Bank of America decreased 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. Wells Fargo & Company lowered their price target on Workday from $325.00 to $300.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. UBS Group set a $304.00 price target on Workday in a research report on Friday, August 22nd. DA Davidson raised their price target on Workday from $225.00 to $260.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Canaccord Genuity Group lowered their price target on Workday from $330.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday, August 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $287.83.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 78,564 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $220.12, for a total value of $17,293,507.68. Following the completion of the transaction, the insider owned 102,997 shares in the company, valued at $22,671,699.64. The trade was a 43.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the sale, the chief executive officer owned 1,472 shares of the company's stock, valued at $352,440.96. The trade was a 80.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,053 shares of company stock worth $59,011,015 over the last ninety days. 20.00% of the stock is owned by insiders.

Workday Stock Up 3.9%

Shares of WDAY opened at $242.66 on Tuesday. The company has a market capitalization of $64.79 billion, a P/E ratio of 112.34, a PEG ratio of 3.08 and a beta of 1.12. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.10 and a quick ratio of 2.10. Workday, Inc. has a one year low of $205.33 and a one year high of $294.00. The business's 50 day simple moving average is $229.02 and its 200-day simple moving average is $237.66.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Thursday, August 21st. The software maker reported $2.21 EPS for the quarter, topping the consensus estimate of $2.09 by $0.12. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.34 billion. Workday had a return on equity of 9.74% and a net margin of 6.51%.Workday's revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.75 EPS. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, sell-side analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal 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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