Workday, Inc. $WDAY Shares Bought by TenCore Partners LP

Key Points

• TenCore Partners LP increased its stake in Workday, Inc. by 4.5%, now owning 66,171 shares, making it the firm's 5th largest holding, valued at approximately $15.45 million.
• Workday reported quarterly earnings of $2.21 EPS, exceeding estimates, with a year-over-year revenue increase of 12.6%.
• Major institutional ownership stands at 89.81% with several hedge funds increasing their positions in the stock during the first quarter.

TenCore Partners LP increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 4.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 66,171 shares of the software maker's stock after acquiring an additional 2,870 shares during the period. Workday comprises 8.1% of TenCore Partners LP's portfolio, making the stock its 5th biggest position. TenCore Partners LP's holdings in Workday were worth $15,453,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Untitled Investments LP lifted its stake in shares of Workday by 7.3% during the 1st quarter. Untitled Investments LP now owns 113,763 shares of the software maker's stock worth $26,567,000 after acquiring an additional 7,730 shares during the last quarter. UniSuper Management Pty Ltd increased its holdings in Workday by 2.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 95,041 shares of the software maker's stock worth $22,195,000 after purchasing an additional 2,499 shares during the period. Scientech Research LLC increased its holdings in Workday by 77.1% during the 1st quarter. Scientech Research LLC now owns 3,650 shares of the software maker's stock worth $852,000 after purchasing an additional 1,589 shares during the period. Select Equity Group L.P. increased its holdings in Workday by 3.1% during the 1st quarter. Select Equity Group L.P. now owns 510,119 shares of the software maker's stock worth $119,128,000 after purchasing an additional 15,476 shares during the period. Finally, Rise Advisors LLC increased its holdings in Workday by 177.3% during the 1st quarter. Rise Advisors LLC now owns 208 shares of the software maker's stock worth $49,000 after purchasing an additional 133 shares during the period. 89.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 73,971 shares of Workday stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $238.66, for a total transaction of $17,653,918.86. Following the completion of the sale, the insider owned 102,997 shares of the company's stock, valued at approximately $24,581,264.02. The trade was a 41.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Mark S. Garfield sold 451 shares of Workday stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $234.86, for a total value of $105,921.86. Following the sale, the chief accounting officer directly owned 42,977 shares of the company's stock, valued at approximately $10,093,578.22. This represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 318,380 shares of company stock valued at $76,586,604 in the last 90 days. Corporate insiders own 20.00% of the company's stock.

Workday Stock Down 0.5%

Shares of NASDAQ:WDAY traded down $1.08 on Tuesday, reaching $230.73. The company had a trading volume of 1,903,471 shares, compared to its average volume of 3,808,938. Workday, Inc. has a 52-week low of $205.33 and a 52-week high of $294.00. The firm's 50 day simple moving average is $230.18 and its 200-day simple moving average is $239.64. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $61.60 billion, a PE ratio of 106.82, a PEG ratio of 3.23 and a beta of 1.12.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.12. Workday had a return on equity of 9.74% and a net margin of 6.51%.The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the business earned $1.75 EPS. The firm's revenue for the quarter was up 12.6% on a year-over-year basis. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on WDAY shares. Needham & Company LLC restated a "buy" rating and set a $300.00 price objective on shares of Workday in a report on Tuesday. Deutsche Bank Aktiengesellschaft reduced their price objective on Workday from $330.00 to $280.00 and set a "buy" rating on the stock in a report on Friday, August 22nd. Guggenheim restated a "neutral" rating on shares of Workday in a report on Friday, August 22nd. Morgan Stanley set a $255.00 price objective on Workday and gave the stock an "equal weight" rating in a report on Friday, May 23rd. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $304.00 price target on shares of Workday in a report on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Workday currently has a consensus rating of "Moderate Buy" and an average price target of $286.81.

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.