Zimmer Partners LP Takes Position in Workday, Inc. $WDAY

Key Points

• Zimmer Partners LP has acquired a new stake in Workday, Inc., purchasing 1,500 shares valued at approximately $350,000.
• Multiple institutional investors have increased their positions in Workday, leading to a total of 89.81% of the company's stock being owned by such entities.
• Workday's recent earnings report showed $2.21 EPS, exceeding consensus estimates, with quarterly revenue of $2.35 billion, up 12.6% year-over-year.

Zimmer Partners LP acquired a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,500 shares of the software maker's stock, valued at approximately $350,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. 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 acquiring an additional 455,855 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Workday by 47.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker's stock valued at $879,147,000 after acquiring an additional 1,211,659 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Workday by 0.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,736,609 shares of the software maker's stock valued at $872,610,000 after acquiring an additional 14,354 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in shares of Workday by 35.6% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 3,479,105 shares of the software maker's stock valued at $812,475,000 after acquiring an additional 913,613 shares during the period. Finally, Parnassus Investments LLC grew its position in shares of Workday by 22.4% during the 1st quarter. Parnassus Investments LLC now owns 2,996,429 shares of the software maker's stock valued at $699,756,000 after acquiring an additional 548,694 shares during the period. Institutional investors own 89.81% of the company's stock.

Workday Stock Down 1.2%

NASDAQ:WDAY traded down $2.61 during midday trading on Monday, reaching $220.78. 912,816 shares of the stock traded hands, compared to its average volume of 2,505,873. Workday, Inc. has a 12-month low of $205.33 and a 12-month high of $294.00. The business has a 50-day moving average of $229.28 and a two-hundred day moving average of $238.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a market capitalization of $58.95 billion, a PE ratio of 102.23, a price-to-earnings-growth ratio of 3.11 and a beta of 1.12.

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. The company had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.34 billion. Workday had a net margin of 6.51% and a return on equity of 9.74%. Workday's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company 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 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several recent analyst reports. UBS Group set a $304.00 target price on shares of Workday in a report on Friday, August 22nd. Cantor Fitzgerald upgraded shares of Workday to a "strong-buy" rating in a research note on Thursday. Morgan Stanley set a $255.00 price target on shares of Workday and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. Westpark Capital boosted their price target on shares of Workday from $315.00 to $328.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Workday from $295.00 to $290.00 and set an "overweight" rating on the stock in a research report on Friday, August 22nd. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $286.81.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 73,971 shares of Workday stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $238.66, for a total value of $17,653,918.86. Following the completion of the transaction, the insider owned 102,997 shares of the company's stock, valued at approximately $24,581,264.02. The trade was a 41.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction 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 transaction, the chief executive officer directly owned 1,472 shares of the company's stock, 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 sold a total of 303,380 shares of company stock worth $72,906,654 over the last three months. Corporate insiders own 20.00% of the company's stock.

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.