Adage Capital Partners GP L.L.C. Raises Stock Holdings in Workday, Inc. $WDAY

Key Points

• Adage Capital Partners GP L.L.C. increased its holdings in Workday, Inc. by 8.8% during the first quarter, owning 170,300 shares valued at approximately $39.77 million.
• Workday reported earnings of $2.21 per share for the last quarter, beating analysts' expectations and showing a 12.6% year-over-year revenue increase to $2.35 billion.
• Insider sales included significant stock transactions by CFO Zane Rowe and CEO Carl M. Eschenbach, together selling over 12,000 shares worth approximately $3 million.

Adage Capital Partners GP L.L.C. lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 8.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 170,300 shares of the software maker's stock after buying an additional 13,800 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.06% of Workday worth $39,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Workday by 2.3% during the first quarter. Vanguard Group Inc. now owns 20,598,655 shares of the software maker's stock valued at $4,810,404,000 after buying an additional 455,855 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in Workday by 47.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker's stock worth $879,147,000 after purchasing an additional 1,211,659 shares during the period. The Manufacturers Life Insurance Company grew its stake in Workday by 0.4% in the first quarter. The Manufacturers Life Insurance Company now owns 3,736,609 shares of the software maker's stock worth $872,610,000 after purchasing an additional 14,354 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in Workday by 35.6% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 3,479,105 shares of the software maker's stock worth $812,475,000 after purchasing an additional 913,613 shares during the period. Finally, Parnassus Investments LLC grew its stake in Workday by 22.4% in the first quarter. Parnassus Investments LLC now owns 2,996,429 shares of the software maker's stock worth $699,756,000 after purchasing an additional 548,694 shares during the period. Hedge funds and other institutional investors own 89.81% of the company's stock.

Workday Stock Performance

NASDAQ:WDAY traded down $0.05 during mid-day trading on Friday, reaching $231.08. The company's stock had a trading volume of 3,525,278 shares, compared to its average volume of 3,855,587. Workday, Inc. has a 12-month low of $205.33 and a 12-month high of $294.00. The firm's fifty day moving average price is $230.52 and its two-hundred day moving average price is $240.17. 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 stock has a market cap of $61.70 billion, a P/E ratio of 106.98, a PEG ratio of 3.22 and a beta of 1.12.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.12. The business had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.34 billion. Workday had a return on equity of 9.74% and a net margin of 6.51%.The business's revenue for the quarter was up 12.6% on a year-over-year basis. During the same period last year, the firm posted $1.75 earnings per share. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. DA Davidson upped their price target on Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Wall Street Zen raised shares of Workday from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. Stifel Nicolaus lowered their price target on shares of Workday from $275.00 to $255.00 and set a "hold" rating for the company in a research report on Friday, August 22nd. JPMorgan Chase & Co. lowered their price target on shares of Workday from $295.00 to $290.00 and set an "overweight" rating for the company in a research report on Friday, August 22nd. Finally, Piper Sandler lowered their price target on shares of Workday from $235.00 to $220.00 and set an "underweight" rating for the company in a research report on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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 value of $1,496,437.50. Following the transaction, the chief executive officer directly owned 1,472 shares of the company's stock, valued at approximately $352,440.96. This trade represents a 80.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the firm'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 in the company, valued at $42,747,168.62. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 318,380 shares of company stock valued at $76,586,604. Company insiders own 19.31% of the company's stock.

Workday 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.