Wellington Management Group LLP Has $113.88 Million Stock Position in Workday, Inc. $WDAY

Key Points

• Wellington Management Group LLP has reduced its stock position in Workday, Inc. by 34.2%, owning approximately $113.88 million worth of shares after selling 253,228 shares in the 1st quarter.
• Major shareholder David A. Duffield sold 73,971 shares of Workday, representing a 41.80% decrease in his ownership, while several institutional investors increased their stakes in the company.
• Analysts have recently adjusted their ratings, with targets dropping to as low as $250.00 from previous highs, resulting in a consensus rating of "Moderate Buy" for Workday's stock.

Wellington Management Group LLP reduced its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 34.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 487,631 shares of the software maker's stock after selling 253,228 shares during the period. Wellington Management Group LLP owned about 0.18% of Workday worth $113,876,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of Workday in the 1st quarter worth approximately $456,341,000. The Manufacturers Life Insurance Company increased its holdings in Workday by 60.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock valued at $960,454,000 after purchasing an additional 1,406,088 shares in the last quarter. Northern Trust Corp raised its position in Workday by 51.2% in the 4th quarter. Northern Trust Corp now owns 2,263,981 shares of the software maker's stock valued at $584,175,000 after purchasing an additional 767,034 shares during the last quarter. Contour Asset Management LLC acquired a new position in Workday in the fourth quarter worth $183,516,000. Finally, GAMMA Investing LLC grew its holdings in shares of Workday by 53,267.5% during the first quarter. GAMMA Investing LLC now owns 658,555 shares of the software maker's stock worth $153,792,000 after purchasing an additional 657,321 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Royal Bank Of Canada restated an "outperform" rating and issued a $340.00 price objective on shares of Workday in a research report on Friday, May 23rd. Stifel Nicolaus reduced their target price on shares of Workday from $310.00 to $275.00 and set a "hold" rating on the stock in a research report on Friday, May 23rd. Loop Capital decreased their price target on shares of Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a research note on Friday, May 23rd. Finally, UBS Group dropped their price objective on shares of Workday from $285.00 to $250.00 and set a "neutral" rating for the company in a research report on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Workday presently has a consensus rating of "Moderate Buy" and an average target price of $292.92.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 73,971 shares of the firm'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 transaction, the insider owned 102,997 shares in the company, valued at approximately $24,581,264.02. This trade represents a 41.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $1,437,540.00. Following the completion of the sale, the chief financial officer directly owned 178,418 shares of the company's stock, valued at approximately $42,747,168.62. This trade represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 329,005 shares of company stock valued at $79,203,523. Corporate insiders own 19.31% of the company's stock.

Workday Trading Up 0.0%

Shares of NASDAQ WDAY opened at $227.58 on Friday. Workday, Inc. has a fifty-two week low of $205.33 and a fifty-two week high of $294.00. The firm has a market capitalization of $60.76 billion, a P/E ratio of 125.73, a P/E/G ratio of 3.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07. The company's 50 day simple moving average is $232.85 and its 200 day simple moving average is $242.98.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Thursday, August 21st. The software maker reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $2.09 by $0.12. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.34 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. The business's quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.75 EPS. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, analysts predict 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.

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