Workday, Inc. $WDAY Shares Sold by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. has reduced its holdings in Workday, Inc. by 51.1%, selling 220,441 shares and owning approximately 0.08% of the company at a value of $49.2 million after the sale.
• Workday recently reported a quarterly earnings per share (EPS) of $2.21, exceeding analysts' expectations of $2.09, with revenues increasing 12.6% year-over-year to $2.35 billion.
• Several institutional investors, including Cornerstone Planning Group LLC and Farmers & Merchants Investments Inc., have recently increased their stakes in Workday, contributing to 89.81% of the company's stock being held by institutional investors.

Panagora Asset Management Inc. lessened its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 51.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 210,684 shares of the software maker's stock after selling 220,441 shares during the period. Panagora Asset Management Inc. owned approximately 0.08% of Workday worth $49,201,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC raised its stake in 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 during the last quarter. Dagco Inc. purchased a new position in Workday in the 1st quarter worth $31,000. Farmers & Merchants Investments Inc. purchased a new position in Workday in the 1st quarter worth $32,000. Financial Management Professionals Inc. raised its stake in 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 during the last quarter. Finally, Pinnacle Bancorp Inc. purchased a new position in Workday in the 1st quarter worth $40,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Insider Activity

In other news, major shareholder David A. Duffield sold 72,551 shares of the firm's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $239.61, for a total transaction of $17,383,945.11. Following the sale, the insider directly owned 102,997 shares in the company, valued at $24,679,111.17. This trade represents a 41.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark S. Garfield sold 451 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were 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 trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 325,880 shares of company stock worth $78,449,679. 20.00% of the stock is currently owned by corporate insiders.

Workday Stock Performance

Shares of NASDAQ WDAY traded up $2.32 during trading on Monday, reaching $230.82. 3,243,481 shares of the company traded hands, compared to its average volume of 4,037,615. The firm's fifty day simple moving average is $230.97 and its 200 day simple moving average is $240.73. The stock has a market cap of $61.63 billion, a P/E ratio of 106.86, a PEG ratio of 3.22 and a beta of 1.12. Workday, Inc. has a 12-month low of $205.33 and a 12-month high of $294.00. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.33.

Workday (NASDAQ:WDAY - Get Free Report) last released 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. 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 analyst estimates of $2.34 billion. During the same quarter last year, the business posted $1.75 EPS. The company's revenue was up 12.6% on a year-over-year basis. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WDAY. Sanford C. Bernstein restated an "outperform" rating and issued a $304.00 target price on shares of Workday in a research note on Friday, August 22nd. Citigroup reduced their target price on Workday from $279.00 to $260.00 and set a "neutral" rating for the company in a research note on Friday, August 22nd. KeyCorp reduced their target price on Workday from $325.00 to $285.00 and set an "overweight" rating for the company in a research note on Friday, August 22nd. Piper Sandler reduced their target price on Workday from $235.00 to $220.00 and set an "underweight" rating for the company in a research note on Friday, August 22nd. Finally, UBS Group set a $304.00 price objective on Workday in a research note on Friday, August 22nd. Two 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $286.81.

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.