Kodai Capital Management LP Acquires 138,460 Shares of Workday, Inc. $WDAY

Key Points

• Kodai Capital Management LP significantly increased its stake in Workday, Inc. by 1,426.2%, acquiring an additional 138,460 shares, bringing its total ownership to 148,168 shares, valued at approximately $34.6 million.
• Several other institutional investors also boosted their positions in Workday during the 1st quarter, with significant increases reported by Nisa Investment Advisors LLC and D.A. Davidson & CO.
• Director George J. Still, Jr. and major shareholder David A. Duffield both sold substantial amounts of their shares, decreasing their ownership stakes by 10% and 41.8% respectively.

Kodai Capital Management LP increased its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 1,426.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 148,168 shares of the software maker's stock after buying an additional 138,460 shares during the period. Workday accounts for about 1.4% of Kodai Capital Management LP's holdings, making the stock its 23rd largest holding. Kodai Capital Management LP owned 0.06% of Workday worth $34,602,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC grew its stake in shares of 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 buying an additional 54 shares during the last quarter. Dagco Inc. purchased a new stake in shares of Workday in the 1st quarter worth approximately $31,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Workday in the 1st quarter worth approximately $32,000. Financial Management Professionals Inc. boosted its stake in Workday by 54.0% during the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock valued at $36,000 after purchasing an additional 54 shares during the last quarter. Finally, Pinnacle Bancorp Inc. purchased a new stake in Workday during the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on WDAY shares. Bank of America cut their target price on Workday from $295.00 to $278.00 and set a "buy" rating on the stock in a research note on Tuesday, August 19th. KeyCorp cut their target price on Workday from $325.00 to $285.00 and set an "overweight" rating on the stock in a research note on Friday, August 22nd. Stifel Nicolaus cut their target price on Workday from $275.00 to $255.00 and set a "hold" rating on the stock in a research note on Friday, August 22nd. UBS Group set a $304.00 target price on Workday in a research note on Friday, August 22nd. Finally, Barclays cut their target price on Workday from $321.00 to $298.00 and set an "overweight" rating on the stock in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Workday currently has an average rating of "Moderate Buy" and a consensus target price of $286.81.

Insider Transactions at Workday

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 1,472 shares of the company's stock, valued at $352,440.96. This trade represents a 80.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $239.59, for a total value of $1,437,540.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 325,880 shares of company stock valued at $78,449,679. Company insiders own 20.00% of the company's stock.

Workday Stock Performance

NASDAQ WDAY traded up $2.32 on Monday, hitting $230.82. 3,243,481 shares of the company traded hands, compared to its average volume of 4,037,615. The company has a market capitalization of $61.63 billion, a price-to-earnings ratio of 106.86, a P/E/G ratio of 3.22 and a beta of 1.12. 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 business's 50 day moving average price is $231.09 and its 200-day moving average price is $240.92. Workday, Inc. has a 52-week low of $205.33 and a 52-week high of $294.00.

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. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.34 billion. Workday had a return on equity of 9.74% and a net margin of 6.51%.Workday's quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.75 earnings per share. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Equities analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

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.