Workday, Inc. $WDAY Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its position in Workday, Inc. by 7.1%, now holding 161,034 shares worth approximately $37.6 million.
• Insiders, including CFO Zane Rowe and CEO Carl M. Eschenbach, have sold shares amounting to a total of $79.2 million over the past three months.
• Workday's recent earnings report beat estimates with $2.21 EPS and revenue of $2.35 billion, reflecting a 12.6% year-over-year increase.

Kayne Anderson Rudnick Investment Management LLC trimmed its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 161,034 shares of the software maker's stock after selling 12,308 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 0.06% of Workday worth $37,606,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Mirova boosted its stake in shares of Workday by 5.7% in the first quarter. Mirova now owns 22,454 shares of the software maker's stock worth $5,244,000 after acquiring an additional 1,212 shares during the last quarter. Comerica Bank raised its stake in Workday by 1.1% in the 1st quarter. Comerica Bank now owns 62,566 shares of the software maker's stock valued at $14,611,000 after purchasing an additional 702 shares during the last quarter. ICONIQ Capital LLC lifted its holdings in Workday by 18.3% in the 1st quarter. ICONIQ Capital LLC now owns 1,378 shares of the software maker's stock valued at $322,000 after purchasing an additional 213 shares in the last quarter. Jump Financial LLC boosted its stake in Workday by 823.1% during the 1st quarter. Jump Financial LLC now owns 109,687 shares of the software maker's stock worth $25,615,000 after purchasing an additional 97,804 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Workday by 35.6% during 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 buying an additional 913,613 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Insider Buying and Selling

In other Workday news, CFO Zane Rowe sold 6,000 shares of the 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 completion of the transaction, the chief financial officer owned 178,418 shares of the company's stock, valued at $42,747,168.62. This trade represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 1,472 shares in the company, valued at $352,440.96. This trade represents a 80.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 329,005 shares of company stock valued at $79,203,523 over the last three months. Company insiders own 19.31% of the company's stock.

Analyst Upgrades and Downgrades

WDAY has been the topic of several research reports. Wells Fargo & Company decreased their price target on shares of Workday from $325.00 to $300.00 and set an "overweight" rating on the stock in a research note on Monday, August 18th. Oppenheimer decreased their target price on shares of Workday from $300.00 to $270.00 and set an "outperform" rating on the stock in a research note on Friday. Cantor Fitzgerald set a $265.00 target price on Workday in a report on Thursday, August 14th. Stifel Nicolaus cut their price target on Workday from $275.00 to $255.00 and set a "hold" rating for the company in a report on Friday. Finally, Canaccord Genuity Group reduced their price objective on Workday from $330.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday. Two equities research 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 issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $283.76.

Workday Trading Down 2.8%

Shares of Workday stock opened at $221.27 on Monday. The stock has a 50 day moving average of $232.39 and a 200 day moving average of $242.23. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.10. The firm has a market capitalization of $59.08 billion, a price-to-earnings ratio of 102.44, a PEG ratio of 3.34 and a beta of 1.24. 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 posted its earnings results on Thursday, August 21st. The software maker reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $2.09 by $0.12. Workday had a return on equity of 9.74% and a net margin of 6.51%.The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the previous year, the business earned $1.75 earnings per share. The company's revenue for the quarter was up 12.6% on a year-over-year basis. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, research analysts predict 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.

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