Insight Holdings Group LLC Invests $3.85 Million in Workday, Inc. $WDAY

Key Points

• Insight Holdings Group LLC has acquired a new position in Workday, Inc., purchasing 16,500 shares valued at approximately $3.85 million, making this stock the firm's 21st biggest position.
• Workday's recent quarterly earnings demonstrated strong performance, with an earnings per share (EPS) of $2.21, exceeding analyst expectations, and a revenue of $2.35 billion.
• Institutional investors now own over 89.81% of Workday's stock, indicating significant confidence in the company's future performance.

Insight Holdings Group LLC bought a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 16,500 shares of the software maker's stock, valued at approximately $3,853,000. Workday accounts for 0.3% of Insight Holdings Group LLC's holdings, making the stock its 21st biggest holding.

Several other hedge funds have also made changes to their positions in WDAY. Cornerstone Planning Group LLC raised its position in shares of Workday by 76.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock worth $28,000 after acquiring an additional 54 shares in the last quarter. Dagco Inc. bought a new position in shares of Workday in the 1st quarter worth $31,000. Farmers & Merchants Investments Inc. bought a new position in shares of Workday in the 1st quarter worth $32,000. Financial Management Professionals Inc. raised its position in shares of Workday by 54.0% in the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock worth $36,000 after acquiring an additional 54 shares in the last quarter. Finally, Pinnacle Bancorp Inc. bought a new position in shares of Workday in the 1st quarter worth $40,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Mark S. Garfield sold 451 shares of the company's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $234.86, for a total value of $105,921.86. Following the sale, the chief accounting officer owned 42,977 shares in the company, valued at $10,093,578.22. This represents a 1.04% decrease in their ownership of the stock. 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 dated Tuesday, July 8th. The stock was 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 in the company, valued at $24,679,111.17. The trade was a 41.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 318,380 shares of company stock worth $76,586,604 over the last ninety days. 20.00% of the stock is owned by corporate insiders.

Workday Stock Performance

Shares of WDAY stock traded down $0.05 during mid-day trading on Friday, reaching $231.08. The stock had a trading volume of 3,525,278 shares, compared to its average volume of 3,912,565. The business's fifty day moving average is $230.52 and its 200-day moving average is $239.88. 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 has a market cap of $61.70 billion, a price-to-earnings ratio of 106.98, a PEG ratio of 3.22 and a beta of 1.12. 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 announced its quarterly earnings data on Thursday, August 21st. The software maker reported $2.21 earnings per share for the quarter, beating analysts' consensus estimates of $2.09 by $0.12. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.34 billion. Workday had a return on equity of 9.74% and a net margin of 6.51%.The company's revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.75 earnings per share. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Analysts Set New Price Targets

WDAY has been the topic of several recent analyst reports. UBS Group set a $304.00 target price on Workday in a research report on Friday, August 22nd. Cantor Fitzgerald set a $265.00 target price on Workday in a research report on Thursday, August 14th. KeyCorp reduced their target price on Workday from $325.00 to $285.00 and set an "overweight" rating on the stock in a research report on Friday, August 22nd. Wall Street Zen raised Workday from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. Finally, Bank of America reduced their target price on Workday from $295.00 to $278.00 and set a "buy" rating on the stock in a research report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Workday currently has an average rating of "Moderate Buy" and a consensus target price of $286.81.

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.