Workday, Inc. $WDAY Shares Sold by NewEdge Advisors LLC

Key Points

• NewEdge Advisors cut its Workday stake by 61.4% in the second quarter, selling 6,662 shares and retaining 4,195 shares valued at approximately $514,000. Institutional investors and hedge funds collectively own 89.81% of Workday.
• Workday reported quarterly revenue of $2.65 billion and EPS of $2.75, exceeding analyst expectations, while revenue increased 12.8% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $206.34; targets range from $92 to $224.

NewEdge Advisors LLC cut its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 61.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,195 shares of the software maker's stock after selling 6,662 shares during the period. NewEdge Advisors LLC's holdings in Workday were worth $514,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Auto Owners Insurance Co increased its holdings in shares of Workday by 25,412.8% in the 4th quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker's stock valued at $2,197,332,000 after purchasing an additional 10,190,516 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Workday by 101.4% during the fourth quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker's stock worth $1,077,537,000 after purchasing an additional 2,525,821 shares during the period. Norges Bank purchased a new position in shares of Workday during the 4th quarter valued at $448,804,000. Contour Asset Management LLC purchased a new position in Workday in the fourth quarter valued at about $184,083,000. Finally, Pacer Advisors Inc. increased its position in Workday by 840.9% in the 4th quarter. Pacer Advisors Inc. now owns 765,049 shares of the software maker's stock worth $164,317,000 after purchasing an additional 683,741 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

More Workday News

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Workday launched Total Benefits, an AI-powered platform that combines employees’ health, financial and wellbeing benefits in one location. The offering and its self-service guidance agent could deepen customer engagement and expand Workday’s human-capital-management opportunity. Workday launches Total Benefits
• Positive Sentiment: Workday is expanding its payroll ecosystem through partnerships with Block’s Cash App and Experian. Eligible U.S. workers will be able to direct paychecks to Cash App, while Experian’s income-verification integration may streamline onboarding and verification. These additions could make Workday’s payroll platform more valuable and support customer adoption. Workday expands payroll and verification ecosystem
• Positive Sentiment: One analysis argues that WDAY could be significantly undervalued after its latest earnings beat and new payroll deals. Workday previously reported quarterly revenue of $2.65 billion and EPS of $2.75, exceeding consensus estimates, though the valuation estimate is an external opinion rather than company guidance. Workday could be undervalued
• Neutral Sentiment: Commentary around Workday’s AI benefits hub and partner network reinforces the long-term growth narrative, but the reports do not provide a new revenue forecast or quantify near-term financial benefits. Workday AI benefits hub analysis
• Neutral Sentiment: Reported short interest was zero shares as of September 24, indicating little evidence of short-selling pressure or a likely short squeeze.
• Negative Sentiment: Major shareholder David Duffield sold 99,613 shares for approximately $19.1 million, cutting his position by nearly 49%. The sale occurred under a pre-arranged Rule 10b5-1 plan, reducing its value as a discretionary bearish signal, but the transaction can still pressure investor sentiment. SEC filing

Wall Street Analysts Forecast Growth

WDAY has been the subject of several recent research reports. CLSA began coverage on shares of Workday in a research report on Monday, July 20th. They issued an "underperform" rating and a $92.00 target price for the company. Morgan Stanley raised their price target on shares of Workday from $145.00 to $180.00 and gave the company an "underweight" rating in a report on Friday, August 28th. Bank of America lifted their price objective on shares of Workday from $140.00 to $205.00 and gave the company a "neutral" rating in a research note on Wednesday, August 19th. Lake Street Capital set a $205.00 target price on Workday in a report on Friday, August 14th. Finally, Barclays boosted their price target on Workday from $200.00 to $224.00 and gave the stock an "overweight" rating in a research report on Friday, August 28th. Twenty equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $206.34.

Insider Activity at Workday

In related news, major shareholder David Duffield sold 99,613 shares of the firm's stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $192.14, for a total value of $19,139,641.82. Following the completion of the sale, the insider owned 105,049 shares of the company's stock, valued at $20,184,114.86. This trade represents a 48.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Mark Garfield sold 918 shares of the company's stock in a transaction on Friday, July 10th. The stock was sold at an average price of $142.19, for a total value of $130,530.42. Following the transaction, the chief accounting officer directly owned 73,718 shares in the company, valued at approximately $10,481,962.42. This represents a 1.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 914,123 shares of company stock valued at $156,076,163 over the last three months. 18.64% of the stock is owned by company insiders.

Workday Trading Down 0.8%

Shares of Workday stock opened at $189.45 on Friday. The stock has a market capitalization of $45.66 billion, a P/E ratio of 38.43, a price-to-earnings-growth ratio of 1.93 and a beta of 1.08. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $249.85. The company has a 50-day simple moving average of $181.95 and a 200 day simple moving average of $147.97. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, topping analysts' consensus estimates of $2.61 by $0.14. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%.The business's revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.21 earnings per share. Research analysts expect that Workday, Inc. will post 5.3 earnings per share for the current fiscal year.

About Workday

Workday, Inc develops cloud-based enterprise software designed to help organizations manage finance, human resources and related business operations. Its platform provides tools for financial management, accounting, procurement, expenses, payroll, workforce management, recruiting, talent management, employee experience and enterprise planning.

The company also offers analytics, reporting and artificial intelligence capabilities that support budgeting, forecasting, workforce planning and business decision-making.

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