Praxis Investment Management Inc. Sells 4,340 Shares of Workday, Inc. $WDAY

Key Points

• Praxis Investment Management Inc. reduced its stake in Workday, Inc. by 78.9%, selling 4,340 shares during the second quarter, leaving them with 1,160 shares valued at approximately $278,000.
• Several institutional investors have increased their positions in Workday, with 89.81% of the stock currently owned by institutional investors.
• Multiple analysts have set new price targets for Workday, with Evercore ISI raising its target from $275 to $300, while Bank of America reduced its target from $295 to $278, indicating varied market sentiments.

Praxis Investment Management Inc. reduced its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 78.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,160 shares of the software maker's stock after selling 4,340 shares during the quarter. Praxis Investment Management Inc.'s holdings in Workday were worth $278,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Cornerstone Planning Group LLC increased 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 buying an additional 54 shares in the last quarter. Dagco Inc. purchased a new stake in Workday in the 1st quarter worth $31,000. Pinnacle Bancorp Inc. purchased a new stake in Workday in the 1st quarter worth $40,000. BankPlus Trust Department purchased a new stake in Workday in the 1st quarter worth $40,000. Finally, Physician Wealth Advisors Inc. purchased a new stake in Workday in the 2nd quarter worth $42,000. 89.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Evercore ISI increased their price target on Workday from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 17th. Deutsche Bank Aktiengesellschaft cut their price target on Workday from $330.00 to $280.00 and set a "buy" rating for the company in a research note on Friday, August 22nd. Guggenheim upgraded Workday from a "neutral" rating to a "buy" rating and set a $285.00 price objective for the company in a research report on Wednesday, September 17th. Bank of America cut their price objective on Workday from $295.00 to $278.00 and set a "buy" rating for the company in a research report on Tuesday, August 19th. Finally, Cowen restated a "buy" rating on shares of Workday in a research report on Wednesday, September 17th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $287.83.

Insider Activity

In other news, insider Richard Harry Sauer sold 2,320 shares of Workday stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $235.87, for a total transaction of $547,218.40. Following the completion of the sale, the insider owned 90,077 shares of the company's stock, valued at approximately $21,246,461.99. The trade was a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 75,053 shares of Workday stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $236.34, for a total transaction of $17,738,026.02. Following the sale, the insider directly owned 102,997 shares of the company's stock, valued at $24,342,310.98. This represents a 42.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 264,933 shares of company stock valued at $61,475,760. Insiders own 19.31% of the company's stock.

Workday Stock Up 2.9%

Shares of NASDAQ WDAY opened at $234.25 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.10 and a quick ratio of 2.10. The company has a market cap of $62.54 billion, a P/E ratio of 108.45, a PEG ratio of 2.92 and a beta of 1.10. Workday, Inc. has a 1 year low of $205.33 and a 1 year high of $294.00. The firm has a 50-day simple moving average of $231.31 and a two-hundred day simple moving average of $236.76.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data on Thursday, August 21st. The software maker reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.12. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.34 billion. Workday had a net margin of 6.51% and a return on equity of 9.74%. The firm's quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.75 earnings per share. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Research analysts anticipate that Workday, Inc. will post 2.63 earnings per share 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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