Quadrature Capital Ltd Buys New Position in Workday, Inc. $WDAY

Key Points

• Quadrature Capital opened a new position in Workday, buying 105,510 shares in Q3 worth about $25.4 million, and institutional investors now own roughly 89.81% of the company.
• Analyst coverage is mixed: several firms have trimmed targets (examples include Deutsche Bank and Rosenblatt), but the consensus remains a "Moderate Buy" with an average target of $203.00.
• Significant insider selling (co‑founder sold ~107,500 shares and insiders sold ~610,796 shares in the past 90 days) contrasts with a recent earnings beat (Q: $2.47 EPS vs $2.32 est., revenue +14.5%), leaving sentiment and the stock multiple under pressure.

Quadrature Capital Ltd purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 105,510 shares of the software maker's stock, valued at approximately $25,398,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Workday by 3.2% in the third quarter. Vanguard Group Inc. now owns 21,799,056 shares of the software maker's stock valued at $5,247,687,000 after acquiring an additional 684,872 shares in the last quarter. State Street Corp lifted its position in shares of Workday by 3.3% during the second quarter. State Street Corp now owns 9,600,516 shares of the software maker's stock worth $2,304,124,000 after purchasing an additional 303,713 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Workday by 2.9% during the second quarter. Geode Capital Management LLC now owns 4,952,938 shares of the software maker's stock worth $1,183,112,000 after purchasing an additional 140,042 shares in the last quarter. Parnassus Investments LLC boosted its stake in shares of Workday by 13.1% in the third quarter. Parnassus Investments LLC now owns 3,217,205 shares of the software maker's stock valued at $774,478,000 after purchasing an additional 371,561 shares during the period. Finally, Generation Investment Management LLP boosted its stake in shares of Workday by 50.4% in the third quarter. Generation Investment Management LLP now owns 3,087,395 shares of the software maker's stock valued at $743,229,000 after purchasing an additional 1,034,589 shares during the period. Hedge funds and other institutional investors own 89.81% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price target on shares of Workday in a research note on Monday, February 23rd. Evercore cut shares of Workday from an "outperform" rating to an "in-line" rating and set a $160.00 price objective for the company. in a research report on Wednesday, February 25th. Loop Capital set a $210.00 target price on Workday in a research note on Thursday. Deutsche Bank Aktiengesellschaft dropped their target price on Workday from $265.00 to $190.00 and set a "buy" rating on the stock in a research report on Wednesday, February 18th. Finally, Rosenblatt Securities cut their price target on Workday from $180.00 to $150.00 and set a "buy" rating on the stock in a research note on Wednesday, February 25th. Twenty investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $203.00.

More Workday News

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Fairview Health Services selected Workday’s AI‑powered HR, finance and supply‑chain suite — a notable enterprise customer win that validates Workday’s platform strategy and could contribute recurring subscription revenue over time. Read More.
• Positive Sentiment: Partnerships with Lyra Health (mental‑health integration) and Insperity (HRScale for SMBs) expand Workday’s HCM ecosystem and open cross‑sell/up‑sell opportunities in wellness and mid‑market segments. Read More.
• Positive Sentiment: Industry recognition — named a strategic partner of the year — helps channel credibility and partner momentum for services/implementations. Read More.
• Neutral Sentiment: Third‑party integrations and partnerships (Persona candidate verification; Kognitiv + Syndio for EU pay transparency) increase Workday’s ecosystem stickiness but are incremental and not immediate revenue catalysts. Read More.
• Neutral Sentiment: Broader software‑industry commentary around AI automation frames a favorable narrative for platform vendors like Workday, but it’s high level and doesn’t change near‑term revenue/earnings. Read More.
• Negative Sentiment: Major insider selling: co‑founder David A. Duffield sold 107,500 shares (~$15.3M at ~$142.18), cutting his stake roughly in half — a headline that can weigh on investor confidence even if for personal/liquidity reasons. Read More.
• Negative Sentiment: Analyst/valuation and guidance pressure: recent commentary has trimmed fair‑value estimates (~20% cut cited) and flagged softer subscription guidance plus higher planned investment — a combination that has pressured sentiment and the stock multiple. Read More.
• Negative Sentiment: Negative narratives on user experience/recruiting friction surfaced in commentary pieces, which can amplify short‑term sentiment risk though they are less directly tied to revenue. Read More.

Workday Trading Down 2.7%

NASDAQ WDAY opened at $134.14 on Friday. The company has a market capitalization of $35.28 billion, a price-to-earnings ratio of 51.99, a price-to-earnings-growth ratio of 1.34 and a beta of 1.16. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.83. Workday, Inc. has a 12 month low of $117.76 and a 12 month high of $276.00. The company's fifty day moving average price is $166.12 and its two-hundred day moving average price is $206.73.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.15. Workday had a net margin of 7.26% and a return on equity of 13.37%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the firm earned $1.92 EPS. The company's revenue was up 14.5% on a year-over-year basis. As a group, research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Transactions at Workday

In related news, CAO Mark S. Garfield sold 953 shares of the business's stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $209.56, for a total value of $199,710.68. Following the completion of the sale, the chief accounting officer directly owned 35,336 shares of the company's stock, valued at $7,405,012.16. The trade was a 2.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Zane Rowe sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $208.75, for a total value of $1,252,500.00. Following the sale, the chief financial officer owned 159,158 shares in the company, valued at $33,224,232.50. The trade was a 3.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 610,796 shares of company stock valued at $107,013,566 over the last 90 days. Corporate insiders own 19.31% of the company's stock.

Workday Company Profile

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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