Permanens Capital L.P. Increases Holdings in Workday, Inc. $WDAY

Key Points

• Permanens Capital L.P. increased its holdings in Workday, Inc. by 40.2% during the first quarter, bringing its total investment to approximately $1.17 million after acquiring an additional 1,436 shares.
• Brokerages have recently adjusted their price targets for Workday; Barclays lowered its target from $321.00 to $298.00, while Westpark Capital raised its target from $315.00 to $328.00, reflecting mixed sentiment among analysts.
• Workday reported $2.21 EPS for the last quarter, exceeding analyst expectations and marking a 12.6% increase in revenue compared to the same period last year.

Permanens Capital L.P. boosted its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 40.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 5,004 shares of the software maker's stock after purchasing an additional 1,436 shares during the quarter. Permanens Capital L.P.'s holdings in Workday were worth $1,169,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Petrus Trust Company LTA lifted its stake in Workday by 27.3% during the 1st quarter. Petrus Trust Company LTA now owns 189,368 shares of the software maker's stock valued at $44,223,000 after acquiring an additional 40,583 shares during the period. Nissay Asset Management Corp Japan ADV grew its position in Workday by 10.4% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 52,609 shares of the software maker's stock worth $12,286,000 after purchasing an additional 4,973 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Workday by 5.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 338,342 shares of the software maker's stock worth $79,109,000 after purchasing an additional 18,843 shares during the period. Insight Holdings Group LLC bought a new stake in Workday in the 1st quarter worth approximately $3,853,000. Finally, Bwcp LP bought a new stake in Workday in the 1st quarter worth approximately $17,658,000. Institutional investors own 89.81% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on WDAY. DA Davidson lifted their target price on shares of Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Barclays reduced their price target on shares of Workday from $321.00 to $298.00 and set an "overweight" rating for the company in a research report on Monday, August 18th. Guggenheim reaffirmed a "neutral" rating on shares of Workday in a research report on Friday, August 22nd. Oppenheimer reduced their price target on shares of Workday from $300.00 to $270.00 and set an "outperform" rating for the company in a research report on Friday, August 22nd. Finally, Westpark Capital upped their price target on shares of Workday from $315.00 to $328.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Workday currently has an average rating of "Moderate Buy" and a consensus price target of $286.81.

Workday Price Performance

Shares of WDAY traded down $1.08 during trading hours on Tuesday, reaching $230.73. 1,903,471 shares of the stock traded hands, compared to its average volume of 3,808,938. 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, Inc. has a 52-week low of $205.33 and a 52-week high of $294.00. The company's 50-day moving average price is $230.18 and its two-hundred day moving average price is $239.64. The company has a market cap of $61.60 billion, a P/E ratio of 106.82, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data on Thursday, August 21st. The software maker reported $2.21 EPS 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 business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the business earned $1.75 earnings per share. The business'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. On average, analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $239.59, for a total value of $1,437,540.00. Following the sale, the chief financial officer directly owned 178,418 shares of the company's stock, valued at approximately $42,747,168.62. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 451 shares of Workday 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 completion of the sale, the chief accounting officer directly 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. Insiders have sold 318,380 shares of company stock valued at $76,586,604 over the last three months. Insiders own 20.00% of the company's stock.

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.