ProShare Advisors LLC Grows Position in Workday, Inc. $WDAY

Key Points

• ProShare Advisors increased its Workday stake by 34.5% in the fourth quarter, buying 98,607 additional shares and ending with 384,198 shares valued at about $82.5 million.
• Insider selling continued, with CFO Zane Rowe and CAO Mark S. Garfield both selling shares under pre-arranged 10b5-1 plans; insiders sold nearly 990,000 shares worth about $131.6 million over the last 90 days.
• Analysts remain split on Workday after several target cuts and downgrades, but the stock still carries a Moderate Buy consensus with an average price target of $199.71.

ProShare Advisors LLC grew its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 34.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 384,198 shares of the software maker's stock after purchasing an additional 98,607 shares during the quarter. ProShare Advisors LLC owned approximately 0.15% of Workday worth $82,518,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WDAY. Brighton Jones LLC raised its holdings in shares of Workday by 230.2% during the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock valued at $1,033,000 after acquiring an additional 2,792 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Workday by 12.1% during the first quarter. Empowered Funds LLC now owns 11,142 shares of the software maker's stock valued at $2,602,000 after acquiring an additional 1,206 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Workday by 211.7% during the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker's stock valued at $44,000 after acquiring an additional 127 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Workday during the second quarter valued at approximately $281,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Workday by 32.0% during the second quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker's stock valued at $1,583,000 after acquiring an additional 1,600 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

Insider Transactions at Workday

In other news, CFO Zane Rowe sold 6,000 shares of the stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $128.22, for a total value of $769,320.00. Following the sale, the chief financial officer directly owned 217,930 shares of the company's stock, valued at approximately $27,942,984.60. This represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Mark S. Garfield sold 1,585 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $113.05, for a total value of $179,184.25. Following the completion of the sale, the chief accounting officer directly owned 31,467 shares in the company, valued at approximately $3,557,344.35. This represents a 4.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 989,814 shares of company stock valued at $131,576,291. 18.64% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

WDAY has been the subject of a number of recent analyst reports. Evercore downgraded Workday from an "outperform" rating to an "in-line" rating and set a $160.00 target price for the company. in a report on Wednesday, February 25th. Jefferies Financial Group downgraded Workday from a "buy" rating to a "hold" rating and decreased their target price for the company from $325.00 to $150.00 in a report on Monday, February 23rd. Rosenblatt Securities decreased their target price on Workday from $180.00 to $150.00 and set a "buy" rating for the company in a research report on Wednesday, February 25th. KeyCorp lowered their target price on Workday from $260.00 to $155.00 and set an "overweight" rating for the company in a research note on Wednesday, February 25th. Finally, Needham & Company LLC restated a "buy" rating and set a $300.00 price target on shares of Workday in a research report on Wednesday, February 25th. Nineteen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $199.71.

Workday News Roundup

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Workday is expanding its India workforce and increasing AI investment, which supports its growth strategy and could improve long-term adoption of its enterprise software. Workday to keep expanding Indian workforce, deepen AI investments, executive says
• Positive Sentiment: Workday announced an AI-focused partnership with Anthropic and the Local Initiatives Support Corporation to launch its Foundation Solopreneurship Accelerator Program, reinforcing its AI positioning and enterprise ecosystem. Workday (WDAY) Partners With Anthropic and the Local Initiatives Support Corporation
• Positive Sentiment: BTIG reiterated a buy rating and set a $175 price target, implying meaningful upside if Workday’s execution holds up. Benzinga report on BTIG reaffirming Workday buy rating
• Neutral Sentiment: Workday is set to report fiscal Q1 2027 results on May 21, and investors are watching for continued revenue growth driven by demand for HCM, finance, and AI-powered products. Can Healthy Revenue Growth Boost Workday's Q1 Earnings?
• Negative Sentiment: BWG Global downgraded Workday to Negative from Mixed after partner checks showed sentiment deteriorated further during fiscal Q1, which is a fresh warning sign for near-term demand. BWG Global Downgrades Workday, Inc. (WDAY)
• Negative Sentiment: Citi also cut Workday to Neutral and lowered its price target, adding to concerns that the stock may face limited near-term upside ahead of earnings. Another Wall Street giant drops hammer on Workday stock price target

Workday Stock Performance

Shares of WDAY stock opened at $129.34 on Wednesday. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $274.65. The stock has a market cap of $33.24 billion, a PE ratio of 50.13, a price-to-earnings-growth ratio of 1.25 and a beta of 1.04. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The company's fifty day moving average price is $126.94 and its 200-day moving average price is $171.14.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.32 by $0.15. Workday had a net margin of 7.26% and a return on equity of 13.37%. The firm had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the previous year, the business posted $1.92 EPS. The company's quarterly revenue was up 14.5% on a year-over-year basis. On average, equities analysts expect that Workday, Inc. will post 5.11 EPS for the current fiscal year.

About Workday

Workday, Inc NASDAQ: WDAY is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday's platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company's product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.

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