Ieq Capital LLC Sells 4,353 Shares of Workday, Inc. $WDAY

Key Points

• Ieq Capital LLC reduced its stake in Workday, Inc. by 18.1%, selling 4,353 shares and holding 19,727 shares worth approximately $4.6 million.
• Institutional investors currently own 89.81% of Workday's stock, with several firms, including T. Rowe Price and Nuveen, increasing their positions significantly in the first quarter.
• Workday reported better-than-expected earnings for the quarter with an EPS of $2.21, surpassing estimates, and revenue growth of 12.6% year-over-year.

Ieq Capital LLC decreased its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 18.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,727 shares of the software maker's stock after selling 4,353 shares during the quarter. Ieq Capital LLC's holdings in Workday were worth $4,607,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Trust Co. NA raised its stake in shares of Workday by 15.2% in the 1st quarter. Private Trust Co. NA now owns 318 shares of the software maker's stock valued at $74,000 after purchasing an additional 42 shares during the period. Salvus Wealth Management LLC increased its position in shares of Workday by 2.8% in the first quarter. Salvus Wealth Management LLC now owns 1,658 shares of the software maker's stock valued at $387,000 after acquiring an additional 45 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Workday by 15.0% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 353 shares of the software maker's stock valued at $82,000 after acquiring an additional 46 shares during the last quarter. AE Wealth Management LLC increased its position in shares of Workday by 0.4% in the first quarter. AE Wealth Management LLC now owns 11,896 shares of the software maker's stock valued at $2,778,000 after acquiring an additional 46 shares during the last quarter. Finally, Bristlecone Advisors LLC increased its position in shares of Workday by 1.6% in the first quarter. Bristlecone Advisors LLC now owns 2,968 shares of the software maker's stock valued at $693,000 after acquiring an additional 47 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on WDAY shares. Guggenheim reaffirmed a "neutral" rating on shares of Workday in a research report on Friday, August 22nd. 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. JPMorgan Chase & Co. lowered their price target on Workday from $295.00 to $290.00 and set an "overweight" rating on the stock in a research report on Friday, August 22nd. Westpark Capital boosted their price target on Workday from $315.00 to $328.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, Cantor Fitzgerald set a $265.00 price target on Workday in a research report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $286.81.

Workday Price Performance

WDAY traded up $2.32 during trading on Monday, hitting $230.82. 3,243,481 shares of the stock traded hands, compared to its average volume of 4,037,615. Workday, Inc. has a twelve month low of $205.33 and a twelve month high of $294.00. The company has a market cap of $61.63 billion, a price-to-earnings ratio of 106.86, a PEG ratio of 3.22 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. The business has a 50 day moving average price of $230.97 and a 200 day moving average price of $240.73.

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

Insiders Place Their Bets

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the 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 $352,440.96. This represents a 80.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 451 shares of the 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 $10,093,578.22. The trade was a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 325,880 shares of company stock valued at $78,449,679 over the last ninety days. 20.00% of the stock is currently owned by corporate insiders.

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.