SVB Wealth LLC Lowers Stake in Workday, Inc. $WDAY

Key Points

• SVB Wealth LLC has reduced its stake in Workday, Inc. by 49.0%, now holding 11,080 shares valued at $2.59 million.
• Several institutional investors have increased or established their positions in Workday, resulting in 89.81% of the company's stock being held by institutional shareholders.
• The stock recently saw price target adjustments, with Wells Fargo & Company lowering its target to $300, while DA Davidson raised it to $250, reflecting varied analyst sentiment.

SVB Wealth LLC trimmed its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 49.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,080 shares of the software maker's stock after selling 10,653 shares during the period. SVB Wealth LLC's holdings in Workday were worth $2,588,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its holdings in Workday by 4.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the software maker's stock valued at $417,000 after acquiring an additional 78 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Workday by 305.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 26,023 shares of the software maker's stock valued at $6,077,000 after purchasing an additional 19,612 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Workday by 0.3% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 40,925 shares of the software maker's stock worth $9,557,000 after purchasing an additional 138 shares during the last quarter. Crescent Park Management L.P. increased its stake in shares of Workday by 6.2% in the first quarter. Crescent Park Management L.P. now owns 42,230 shares of the software maker's stock worth $9,862,000 after buying an additional 2,450 shares during the period. Finally, Kestra Advisory Services LLC raised its holdings in Workday by 2.8% during the 1st quarter. Kestra Advisory Services LLC now owns 11,095 shares of the software maker's stock valued at $2,591,000 after buying an additional 306 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction 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 completion of the transaction, the chief executive officer owned 1,472 shares of the company's stock, valued at approximately $352,440.96. This represents a 80.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $248.41, for a total value of $1,863,075.00. Following the sale, the director owned 67,500 shares of the company's stock, valued at $16,767,675. This represents a 10.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 329,005 shares of company stock valued at $79,203,523 in the last 90 days. 20.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. BMO Capital Markets cut their price target on shares of Workday from $314.00 to $285.00 and set an "outperform" rating on the stock in a report on Friday. Barclays dropped their target price on shares of Workday from $321.00 to $298.00 and set an "overweight" rating for the company in a report on Monday, August 18th. Guggenheim reissued a "neutral" rating on shares of Workday in a research note on Friday. KeyCorp lowered their price target on Workday from $325.00 to $285.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Wall Street Zen raised Workday from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $283.76.

Workday Stock Up 1.0%

Shares of Workday stock traded up $2.12 during trading on Monday, hitting $223.39. The company's stock had a trading volume of 5,027,740 shares, compared to its average volume of 3,729,238. Workday, Inc. has a 52 week low of $205.33 and a 52 week high of $294.00. The company has a market capitalization of $59.65 billion, a PE ratio of 103.42, a P/E/G ratio of 3.34 and a beta of 1.24. The company has a fifty day simple moving average of $231.94 and a two-hundred day simple moving average of $241.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.10.

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 for the quarter, topping analysts' consensus estimates of $2.09 by $0.12. The business had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.34 billion. Workday had a net margin of 6.51% and a return on equity of 9.74%. The business's revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.75 earnings per share. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Equities research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

About Workday

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.