Raymond James Financial Inc. Acquires 19,590 Shares of Workday, Inc. $WDAY

Key Points

• Raymond James Financial Inc. increased its stake in Workday, Inc. by 2.6%, owning approximately 0.29% of the company, worth $180.8 million.
• Analysts displayed mixed sentiments about Workday, with ratings ranging from "sell" to "strong buy", and a consensus price target of $294.31.
• CEO Carl M. Eschenbach sold 6,250 shares of Workday stock, representing a significant 80.94% decrease in his holdings.

Raymond James Financial Inc. raised its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 774,072 shares of the software maker's stock after purchasing an additional 19,590 shares during the period. Raymond James Financial Inc. owned approximately 0.29% of Workday worth $180,769,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. American Century Companies Inc. increased its holdings in Workday by 3.7% in the first quarter. American Century Companies Inc. now owns 2,021,193 shares of the software maker's stock valued at $472,009,000 after purchasing an additional 71,219 shares during the period. Ethic Inc. increased its holdings in Workday by 9.4% in the first quarter. Ethic Inc. now owns 17,684 shares of the software maker's stock valued at $4,147,000 after purchasing an additional 1,521 shares during the period. Horizon Investments LLC increased its holdings in Workday by 370.1% in the first quarter. Horizon Investments LLC now owns 14,805 shares of the software maker's stock valued at $3,457,000 after purchasing an additional 11,656 shares during the period. Fox Run Management L.L.C. acquired a new stake in Workday in the first quarter valued at $1,741,000. Finally, Kovitz Investment Group Partners LLC increased its holdings in Workday by 406.5% in the first quarter. Kovitz Investment Group Partners LLC now owns 7,587 shares of the software maker's stock valued at $1,772,000 after purchasing an additional 6,089 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 451 shares of Workday stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $234.86, for a total value of $105,921.86. Following the transaction, the chief accounting officer owned 42,977 shares in the company, valued at $10,093,578.22. This trade represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were 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 $352,440.96. The trade was a 80.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 329,005 shares of company stock worth $79,203,523 over the last 90 days. Insiders own 19.31% of the company's stock.

Workday Price Performance

Shares of NASDAQ WDAY traded down $6.2140 during mid-day trading on Friday, reaching $221.3660. 6,822,561 shares of the company were exchanged, compared to its average volume of 2,440,228. Workday, Inc. has a 52 week low of $205.33 and a 52 week high of $294.00. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $59.10 billion, a PE ratio of 122.30, a PEG ratio of 3.44 and a beta of 1.24. The company's 50 day moving average price is $232.85 and its 200 day moving average price is $242.98.

Workday (NASDAQ:WDAY - Get Free Report) last issued 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 company had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.34 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. The firm's revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.75 EPS. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Sell-side analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Cantor Fitzgerald set a $265.00 price objective on Workday in a report on Thursday, August 14th. Morgan Stanley set a $255.00 price objective on shares of Workday and gave the stock an "equal weight" rating in a research report on Friday, May 23rd. BMO Capital Markets decreased their price objective on shares of Workday from $314.00 to $285.00 and set an "outperform" rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Workday from $330.00 to $280.00 and set a "buy" rating for the company in a research note on Friday. Finally, UBS Group cut their price objective on shares of Workday from $250.00 to $245.00 and set a "neutral" rating for the company in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Workday currently has an average rating of "Moderate Buy" and an average target price of $283.76.

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.