Rafferty Asset Management LLC Sells 14,761 Shares of Workday, Inc. $WDAY

Key Points

• Rafferty Asset Management LLC decreased its stake in Workday by 11.0% to 119,667 shares, now valued at approximately $27.95 million.
• Workday reported $2.21 earnings per share for its latest quarter, surpassing analyst expectations, with a revenue growth of 12.6% year-over-year.
• Insider transactions have seen significant stock sales, with major shareholder David A. Duffield selling 73,971 shares valued at over $17.65 million, reflecting a strategic reduction in holdings.

Rafferty Asset Management LLC reduced its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 11.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,667 shares of the software maker's stock after selling 14,761 shares during the quarter. Rafferty Asset Management LLC's holdings in Workday were worth $27,946,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Workday by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 20,598,655 shares of the software maker's stock worth $4,810,404,000 after acquiring an additional 455,855 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Workday by 47.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker's stock valued at $879,147,000 after purchasing an additional 1,211,659 shares during the period. Brown Advisory Inc. increased its stake in Workday by 1.5% in the 4th quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker's stock worth $911,027,000 after purchasing an additional 52,104 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in Workday by 35.6% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 3,479,105 shares of the software maker's stock worth $812,475,000 after buying an additional 913,613 shares during the period. Finally, Northern Trust Corp lifted its stake in Workday by 6.6% during the first quarter. Northern Trust Corp now owns 2,413,712 shares of the software maker's stock valued at $563,674,000 after buying an additional 149,731 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 72,551 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $239.61, for a total value of $17,383,945.11. Following the completion of the sale, the insider owned 102,997 shares in the company, valued at approximately $24,679,111.17. This trade represents a 41.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total value of $1,496,437.50. Following the sale, the chief executive officer owned 1,472 shares in the company, valued at approximately $352,440.96. This represents a 80.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 325,880 shares of company stock worth $78,449,679. 20.00% of the stock is currently owned by insiders.

Workday Stock Performance

Shares of NASDAQ WDAY traded up $2.32 during trading hours on Monday, hitting $230.82. 3,243,481 shares of the company's stock were exchanged, compared to its average volume of 4,037,615. The stock has a market capitalization of $61.63 billion, a price-to-earnings ratio of 106.86, a PEG ratio of 3.22 and a beta of 1.12. The company's 50-day moving average price is $231.09 and its 200-day moving average price is $240.92. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.10 and a quick ratio of 2.10. Workday, Inc. has a 1-year low of $205.33 and a 1-year high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Thursday, August 21st. The software maker reported $2.21 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $2.34 billion. During the same period in the previous year, the company earned $1.75 earnings per share. The company's quarterly revenue was up 12.6% compared to the same quarter last year. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, sell-side analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of recent analyst reports. Westpark Capital boosted their price target on shares of Workday from $315.00 to $328.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Wall Street Zen upgraded shares of Workday from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. UBS Group set a $304.00 price objective on Workday in a research note on Friday, August 22nd. Citigroup dropped their target price on Workday from $279.00 to $260.00 and set a "neutral" rating on the stock in a report on Friday, August 22nd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $340.00 price target on shares of Workday in a research note on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $286.81.

Workday 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.