Workday, Inc. $WDAY Stake Lifted by Parnassus Investments LLC

Key Points

• Parnassus Investments LLC increased its stake in Workday, Inc. by 22.4%, acquiring an additional 548,694 shares to hold nearly 3 million shares, which is 1.7% of its overall portfolio.
• Workday's stock saw a slight decline of 0.5% on recent trading days, with a market capitalization of $61.01 billion and a 52-week range of $205.33 to $294.00.
• Analysts maintain a consensus rating of "Moderate Buy" for Workday, with an average target price set at $286.81, reflecting positive growth expectations for the company.

Parnassus Investments LLC grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 22.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,996,429 shares of the software maker's stock after purchasing an additional 548,694 shares during the period. Workday makes up about 1.7% of Parnassus Investments LLC's holdings, making the stock its 25th biggest position. Parnassus Investments LLC owned approximately 1.13% of Workday worth $699,756,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Workday

In other news, CAO Mark S. Garfield sold 451 shares of the 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 transaction, the chief accounting officer owned 42,977 shares of the company's stock, valued at approximately $10,093,578.22. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the transaction, the director directly owned 67,500 shares in the company, valued at $16,767,675. The trade was a 10.00% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 325,880 shares of company stock valued at $78,449,679. Corporate insiders own 20.00% of the company's stock.

Workday Stock Up 1.0%

Shares of Workday stock traded up $2.32 during trading hours on Monday, hitting $230.82. 3,243,481 shares of the company's stock traded hands, compared to its average volume of 4,037,615. The stock has a 50 day simple moving average of $231.09 and a 200-day simple moving average of $240.92. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.33. The company has a market cap of $61.63 billion, a PE ratio of 106.86, a PEG ratio of 3.22 and a beta of 1.12. Workday, Inc. has a twelve month low of $205.33 and a twelve month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share for the quarter, beating 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 company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period last year, the firm earned $1.75 earnings per share. 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. Equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WDAY has been the topic of several recent research reports. Royal Bank Of Canada restated an "outperform" rating and issued a $340.00 price objective on shares of Workday in a research report on Friday, August 22nd. Stifel Nicolaus reduced their price target on Workday from $275.00 to $255.00 and set a "hold" rating on the stock in a research note on Friday, August 22nd. Needham & Company LLC reissued a "buy" rating and set a $300.00 price target on shares of Workday in a research note on Friday, August 22nd. Piper Sandler dropped their price objective on Workday from $235.00 to $220.00 and set an "underweight" rating for the company in a report on Friday, August 22nd. Finally, Guggenheim restated a "neutral" rating on shares of Workday in a report 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, Workday presently has a consensus rating of "Moderate Buy" and an average 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.