Long Path Partners LP Increases Position in Workday, Inc. $WDAY

Key Points

• Long Path Partners LP increased its position in Workday, Inc. by 21.0% during Q1, acquiring a total of 56,911 shares valued at approximately $13.29 million.
• Various institutional investors also boosted their holdings, with significant increases from firms such as Nuveen LLC and The Manufacturers Life Insurance Company.
• Analysts have issued mixed ratings for Workday, with a target price range of $255.00 to $328.00, reflecting an average rating of "Moderate Buy" based on recent research reports.

Long Path Partners LP grew its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 21.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 56,911 shares of the software maker's stock after purchasing an additional 9,858 shares during the quarter. Workday accounts for 5.1% of Long Path Partners LP's portfolio, making the stock its 8th largest position. Long Path Partners LP's holdings in Workday were worth $13,290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nuveen LLC bought a new position in Workday during the first quarter valued at about $456,341,000. The Manufacturers Life Insurance Company lifted its holdings in Workday by 60.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock valued at $960,454,000 after acquiring an additional 1,406,088 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Workday by 47.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker's stock valued at $879,147,000 after acquiring an additional 1,211,659 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Workday by 35.6% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 3,479,105 shares of the software maker's stock valued at $812,475,000 after purchasing an additional 913,613 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Workday by 51.2% in the 4th quarter. Northern Trust Corp now owns 2,263,981 shares of the software maker's stock worth $584,175,000 after purchasing an additional 767,034 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

Wall Street Analyst Weigh In

WDAY has been the subject of several recent research reports. Morgan Stanley set a $255.00 target price on shares of Workday and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Needham & Company LLC reiterated a "buy" rating and set a $300.00 price objective on shares of Workday in a research report on Friday. JMP Securities reissued a "market outperform" rating and set a $315.00 price objective on shares of Workday in a research note on Friday. Westpark Capital boosted their target price on Workday from $315.00 to $328.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, KeyCorp reduced their target price on Workday from $325.00 to $285.00 and set an "overweight" rating for the company in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $283.76.

Insider Activity

In related news, Director George J. Still, Jr. sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the completion of the sale, the director directly owned 67,500 shares in the company, valued at approximately $16,767,675. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 451 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $234.86, for a total transaction of $105,921.86. Following the transaction, the chief accounting officer directly owned 42,977 shares in the company, 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. In the last three months, insiders sold 329,005 shares of company stock worth $79,203,523. Corporate insiders own 19.31% of the company's stock.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $221.27 on Monday. The company's fifty day moving average is $232.39 and its two-hundred day moving average is $242.23. The company has a market cap of $59.08 billion, a P/E ratio of 102.44, a price-to-earnings-growth ratio of 3.34 and a beta of 1.24. Workday, Inc. has a 12-month low of $205.33 and a 12-month high of $294.00. The company has a quick ratio of 2.07, a current ratio of 2.10 and a debt-to-equity ratio of 0.33.

Workday (NASDAQ:WDAY - Get Free Report) last issued 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. Workday had a return on equity of 9.74% and a net margin of 6.51%.The business had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.34 billion. During the same quarter last year, the firm posted $1.75 earnings per share. Workday's revenue was up 12.6% compared to the same quarter last year. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Equities analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.

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