Lecap Asset Management Ltd. Buys New Stake in Workday, Inc. $WDAY

Key Points

• Lecap Asset Management Ltd. has acquired a new stake in Workday, Inc., purchasing 5,166 shares valued at approximately $1.24 million during the second quarter.
• Institutional ownership of Workday stands at 89.81%, with multiple hedge funds increasing their stakes, reflecting strong investor confidence in the company.
• Workday's earnings exceeded expectations, reporting an EPS of $2.21 for the latest quarter, surpassing analysts' estimates by $0.12.

Lecap Asset Management Ltd. bought a new stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,166 shares of the software maker's stock, valued at approximately $1,240,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cornerstone Planning Group LLC increased its stake in Workday by 76.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock worth $28,000 after buying an additional 54 shares during the period. Dagco Inc. purchased a new stake in Workday during the 1st quarter worth $31,000. Farmers & Merchants Investments Inc. purchased a new stake in Workday during the 1st quarter worth $32,000. Financial Management Professionals Inc. increased its stake in Workday by 54.0% during the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock worth $36,000 after buying an additional 54 shares during the period. Finally, Pinnacle Bancorp Inc. purchased a new stake in Workday during the 1st quarter worth $40,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on WDAY shares. Needham & Company LLC reaffirmed a "buy" rating and set a $300.00 price target on shares of Workday in a research note on Wednesday, September 17th. Bank of America cut their target price on shares of Workday from $295.00 to $278.00 and set a "buy" rating on the stock in a research note on Tuesday, August 19th. Guggenheim upgraded shares of Workday from a "neutral" rating to a "buy" rating and set a $285.00 target price on the stock in a research note on Wednesday, September 17th. DA Davidson upped their target price on shares of Workday from $225.00 to $260.00 and gave the company a "neutral" rating in a research note on Friday, September 19th. Finally, Canaccord Genuity Group cut their target price on shares of Workday from $330.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, August 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $287.83.

Insider Activity

In other Workday news, CAO Mark S. Garfield sold 451 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $234.86, for a total transaction of $105,921.86. Following the completion of the transaction, the chief accounting officer directly owned 42,977 shares of the company's stock, valued at $10,093,578.22. The trade was a 1.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $239.59, for a total transaction of $1,437,540.00. Following the transaction, the chief financial officer directly owned 178,418 shares of the company's stock, valued at $42,747,168.62. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 247,004 shares of company stock valued at $57,511,876. Company insiders own 19.31% of the company's stock.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $232.21 on Thursday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.33. Workday, Inc. has a fifty-two week low of $205.33 and a fifty-two week high of $294.00. The firm has a 50-day simple moving average of $230.27 and a 200 day simple moving average of $237.71. The company has a market cap of $62.00 billion, a PE ratio of 107.51, a P/E/G ratio of 3.00 and a beta of 1.10.

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

Workday Company 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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