Voya Investment Management LLC Sells 362,746 Shares of Workday, Inc. $WDAY

Key Points

• Voya Investment Management LLC reduced its stake in Workday, Inc. by 53.1%, selling 362,746 shares and leaving them with approximately 319,993 shares valued at nearly $74.73 million.
• Multiple institutional investors have increased their positions in Workday, with Brighton Jones LLC, for instance, raising its stake by 230.2% in the last quarter.
• Analysts have mixed views on Workday, with target prices varying from $250 to $325, while the stock currently holds an average rating of "Moderate Buy" with a consensus price target of $286.81.

Voya Investment Management LLC lessened its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 53.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 319,993 shares of the software maker's stock after selling 362,746 shares during the quarter. Voya Investment Management LLC owned 0.12% of Workday worth $74,728,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDAY. Brighton Jones LLC increased its stake in Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock valued at $1,033,000 after purchasing an additional 2,792 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in Workday by 24.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,075 shares of the software maker's stock valued at $793,000 after purchasing an additional 595 shares in the last quarter. Sphera Funds Management LTD. increased its stake in Workday by 33.3% during the 4th quarter. Sphera Funds Management LTD. now owns 10,000 shares of the software maker's stock valued at $2,580,000 after purchasing an additional 2,500 shares in the last quarter. Shell Asset Management Co. increased its stake in Workday by 69.8% during the 4th quarter. Shell Asset Management Co. now owns 2,297 shares of the software maker's stock valued at $593,000 after purchasing an additional 944 shares in the last quarter. Finally, Select Equity Group L.P. increased its stake in Workday by 23.4% during the 4th quarter. Select Equity Group L.P. now owns 494,643 shares of the software maker's stock valued at $127,633,000 after purchasing an additional 93,958 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Oppenheimer decreased their price target on shares of Workday from $300.00 to $270.00 and set an "outperform" rating for the company in a research note on Friday, August 22nd. Loop Capital reduced their target price on shares of Workday from $285.00 to $250.00 and set a "hold" rating for the company in a research note on Friday, May 23rd. Wall Street Zen upgraded shares of Workday from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. KeyCorp reduced their target price on shares of Workday from $325.00 to $285.00 and set an "overweight" rating for the company in a research note on Friday, August 22nd. Finally, Bank of America reduced their target price on shares of Workday from $295.00 to $278.00 and set a "buy" rating for the company in a research note on Tuesday, August 19th. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Workday presently has an average rating of "Moderate Buy" and a consensus price target of $286.81.

Insider Activity at Workday

In other Workday news, CFO Zane Rowe sold 6,000 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $239.59, for a total transaction of $1,437,540.00. Following the sale, the chief financial officer directly owned 178,418 shares of the company's stock, valued at $42,747,168.62. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mark S. Garfield sold 451 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $234.86, for a total transaction of $105,921.86. Following the sale, the chief accounting officer directly owned 42,977 shares in the company, valued at approximately $10,093,578.22. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 318,380 shares of company stock valued at $76,586,604 over the last quarter. Corporate insiders own 19.31% of the company's stock.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $223.39 on Friday. The company's 50-day moving average is $229.28 and its 200 day moving average is $239.09. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.10 and a current ratio of 2.10. The company has a market capitalization of $59.65 billion, a P/E ratio of 103.42, a price-to-earnings-growth ratio of 3.16 and a beta of 1.12. Workday, Inc. has a fifty-two week low of $205.33 and a fifty-two week high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.34 billion. Workday had a net margin of 6.51% and a return on equity of 9.74%. The firm's quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.75 EPS. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities research analysts forecast 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.