Truist Financial Corp Has $14.81 Million Position in Workday, Inc. $WDAY

Key Points

• Truist Financial Corp reduced its stake in Workday, Inc. by 5.2% during the 2nd quarter, now holding 61,692 shares valued at approximately $14.81 million.
• Recent insider transactions included Richard Harry Sauer and major shareholder David A. Duffield selling a combined total of over 79,724 shares, indicating a significant decrease in their ownership stakes.
• Analysts have mixed opinions on Workday's stock, with price targets ranging from $275.00 to $288.00, and a consensus rating of "Moderate Buy".

Truist Financial Corp reduced its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 5.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 61,692 shares of the software maker's stock after selling 3,406 shares during the quarter. Truist Financial Corp's holdings in Workday were worth $14,806,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted its holdings in shares of Workday by 76.1% during the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock worth $28,000 after buying an additional 54 shares during the last quarter. Dagco Inc. acquired a new position in shares of Workday during the first quarter worth approximately $31,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Workday during the first quarter worth approximately $32,000. Pinnacle Bancorp Inc. acquired a new position in shares of Workday during the first quarter worth approximately $40,000. Finally, BankPlus Trust Department acquired a new position in shares of Workday during the first quarter worth approximately $40,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Workday

In other Workday news, insider Richard Harry Sauer sold 1,160 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $235.41, for a total value of $273,075.60. Following the transaction, the insider owned 95,756 shares of the company's stock, valued at approximately $22,541,919.96. This represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 78,564 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $220.12, for a total value of $17,293,507.68. Following the completion of the transaction, the insider directly owned 102,997 shares in the company, valued at $22,671,699.64. The trade was a 43.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 253,254 shares of company stock valued at $58,996,376. Corporate insiders own 19.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WDAY shares. Barclays upped their price target on Workday from $285.00 to $288.00 and gave the stock an "overweight" rating in a report on Thursday, September 18th. JPMorgan Chase & Co. lowered their price objective on Workday from $295.00 to $290.00 and set an "overweight" rating on the stock in a research report on Friday, August 22nd. Canaccord Genuity Group lowered their price objective on Workday from $330.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday, August 22nd. Cowen restated a "buy" rating on shares of Workday in a research report on Wednesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Workday from $330.00 to $280.00 and set a "buy" rating on the stock in a research report on Friday, August 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Workday has an average rating of "Moderate Buy" and a consensus target price of $287.83.

Workday Trading Up 1.9%

NASDAQ:WDAY opened at $236.48 on Friday. Workday, Inc. has a 1-year low of $205.33 and a 1-year high of $294.00. The business's 50-day moving average price is $230.06 and its two-hundred day moving average price is $237.38. 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 $63.14 billion, a price-to-earnings ratio of 109.48, a PEG ratio of 2.95 and a beta of 1.10.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share for the quarter, beating 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 analyst estimates of $2.34 billion. During the same quarter in the prior year, the firm posted $1.75 earnings per share. The company's quarterly revenue was up 12.6% on a year-over-year basis. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities analysts expect that Workday, Inc. will post 2.63 earnings per share 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.

Want to see what other hedge funds are holding WDAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Workday, Inc. (NASDAQ:WDAY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.