Smith Group Asset Management LLC Purchases 2,870 Shares of Workday, Inc. $WDAY

Key Points

• Smith Group Asset Management LLC increased its holding in Workday, Inc. by 2.5%, acquiring an additional 2,870 shares, bringing its total shares to 115,972.
• Institutional investors currently own 89.81% of Workday's stock, indicating strong institutional confidence in the company.
• Several brokerages have adjusted their target prices for Workday, with estimates ranging from $260 to $285, reflecting varying views on the stock's future performance.

Smith Group Asset Management LLC grew its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 2.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 115,972 shares of the software maker's stock after acquiring an additional 2,870 shares during the period. Workday accounts for approximately 1.8% of Smith Group Asset Management LLC's investment portfolio, making the stock its 26th biggest position. Smith Group Asset Management LLC's holdings in Workday were worth $27,833,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WDAY. Brighton Jones LLC lifted its stake in shares of Workday by 230.2% in the 4th 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 during the last quarter. GAMMA Investing LLC lifted its stake in shares of Workday by 128.5% in the 1st quarter. GAMMA Investing LLC now owns 2,820 shares of the software maker's stock valued at $659,000 after acquiring an additional 1,586 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Workday by 3.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 6,318 shares of the software maker's stock worth $1,475,000 after buying an additional 218 shares during the period. Asset Management One Co. Ltd. lifted its holdings in Workday by 8.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 92,735 shares of the software maker's stock worth $21,656,000 after buying an additional 7,518 shares during the period. Finally, Legacy Advisors LLC lifted its holdings in Workday by 20.9% during the 1st quarter. Legacy Advisors LLC now owns 1,970 shares of the software maker's stock worth $460,000 after buying an additional 340 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on WDAY. KeyCorp cut their target price on Workday from $325.00 to $285.00 and set an "overweight" rating on the stock in a report on Friday, August 22nd. Citigroup cut 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. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Workday in a report on Wednesday, October 8th. BMO Capital Markets cut their target price on Workday from $314.00 to $285.00 and set an "outperform" rating on the stock in a report on Friday, August 22nd. Finally, DA Davidson lifted their price objective on Workday from $225.00 to $260.00 and gave the stock a "neutral" rating in a research report on Friday, September 19th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Workday has a consensus rating of "Moderate Buy" and a consensus target price of $287.83.

Workday Stock Performance

Shares of Workday stock opened at $243.28 on Friday. Workday, Inc. has a one year low of $205.33 and a one year high of $294.00. The firm has a market capitalization of $64.96 billion, a price-to-earnings ratio of 112.63, a PEG ratio of 3.03 and a beta of 1.10. The business has a 50-day simple moving average of $233.30 and a 200 day simple moving average of $237.28. 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 (NASDAQ:WDAY - Get Free Report) last issued its earnings results on Thursday, August 21st. The software maker reported $2.21 EPS for the quarter, beating 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 business 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 posted $1.75 EPS. The firm's 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, research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael M. Mcnamara sold 5,393 shares of the business's stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $235.16, for a total value of $1,268,217.88. Following the completion of the sale, the director directly owned 24,078 shares of the company's stock, valued at $5,662,182.48. The trade was a 18.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the business's stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $232.62, for a total value of $1,395,720.00. Following the completion of the sale, the chief financial officer directly owned 168,468 shares of the company's stock, valued at $39,189,026.16. The trade was a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 264,933 shares of company stock worth $61,475,760 over the last three months. Insiders own 19.31% of the company's stock.

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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