The Manufacturers Life Insurance Company Purchases 14,354 Shares of Workday, Inc. $WDAY

Key Points

• The Manufacturers Life Insurance Company increased its stake in Workday, Inc. by 0.4% during the first quarter, now owning approximately $872.6 million worth of shares.
• Analysts have given Workday a consensus rating of "Moderate Buy" with an average price target of $286.81, although several firms have recently lowered their price targets.
• CEO Carl M. Eschenbach sold 6,250 shares of Workday stock, a transaction valued at nearly $1.5 million, marking a significant decrease in his ownership percentage.

The Manufacturers Life Insurance Company boosted its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,736,609 shares of the software maker's stock after purchasing an additional 14,354 shares during the quarter. Workday makes up 0.8% of The Manufacturers Life Insurance Company's investment portfolio, making the stock its 15th largest position. The Manufacturers Life Insurance Company owned about 1.40% of Workday worth $872,610,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its stake in Workday by 76.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock worth $28,000 after purchasing an additional 54 shares during the period. Dagco Inc. purchased a new stake in shares of Workday in the 1st quarter valued at about $31,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Workday in the 1st quarter valued at about $32,000. Financial Management Professionals Inc. raised its holdings in shares of Workday by 54.0% in the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock valued at $36,000 after acquiring an additional 54 shares in the last quarter. Finally, Pinnacle Bancorp Inc. purchased a new stake in shares of Workday in the 1st quarter valued at about $40,000. Institutional investors own 89.81% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Canaccord Genuity Group lowered their price target on Workday from $330.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, August 22nd. Wall Street Zen raised Workday from a "hold" rating to a "buy" rating in a report on Sunday, July 13th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $304.00 price target on shares of Workday in a report on Friday, August 22nd. Stifel Nicolaus lowered their price target on Workday from $275.00 to $255.00 and set a "hold" rating on the stock in a report on Friday, August 22nd. Finally, Cantor Fitzgerald set a $265.00 price target on Workday in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $286.81.

Insider Buying and Selling at Workday

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the completion of the transaction, the chief executive officer owned 1,472 shares in the company, valued at approximately $352,440.96. The trade was a 80.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 73,971 shares of the company's 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 transaction, the insider owned 102,997 shares in the company, valued at approximately $24,581,264.02. The trade was a 41.80% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 325,880 shares of company stock valued at $78,449,679. 20.00% of the stock is currently owned by company insiders.

Workday Price Performance

Shares of NASDAQ WDAY traded up $2.32 during trading hours on Monday, reaching $230.82. 3,243,481 shares of the stock traded hands, compared to its average volume of 4,037,615. The company has a market capitalization of $61.63 billion, a P/E ratio of 106.86, a price-to-earnings-growth ratio of 3.22 and a beta of 1.12. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.33. Workday, Inc. has a 52-week low of $205.33 and a 52-week high of $294.00. The company's 50-day simple moving average is $231.09 and its two-hundred day simple moving average is $240.92.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share (EPS) 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 business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the company earned $1.75 EPS. Workday's revenue for the quarter 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. Equities research analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

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.