Workday, Inc. $WDAY Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 91.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 121,080 shares of the software maker’s stock after selling 1,295,666 shares during the period. Assenagon Asset Management S.A.’s holdings in Workday were worth $15,731,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Rakuten Securities Inc. purchased a new stake in Workday in the second quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Workday during the third quarter worth $26,000. DT Investment Partners LLC purchased a new position in shares of Workday during the fourth quarter worth $27,000. LRI Investments LLC acquired a new stake in shares of Workday in the fourth quarter valued at $29,000. Finally, JPL Wealth Management LLC acquired a new stake in shares of Workday in the third quarter valued at $30,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 107,500 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $114.25, for a total transaction of $12,281,875.00. Following the completion of the transaction, the insider owned 105,049 shares in the company, valued at $12,001,848.25. The trade was a 50.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $128.22, for a total transaction of $769,320.00. Following the completion of the sale, the chief financial officer directly owned 217,930 shares in the company, valued at approximately $27,942,984.60. This represents a 2.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 774,814 shares of company stock worth $99,846,591 over the last three months. Insiders own 18.64% of the company’s stock.

Workday Price Performance

WDAY stock opened at $124.21 on Friday. The business’s 50-day moving average is $127.46 and its two-hundred day moving average is $153.11. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $30.68 billion, a P/E ratio of 38.82, a P/E/G ratio of 1.33 and a beta of 1.09. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the company posted $2.23 earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. Analysts anticipate that Workday, Inc. will post 5.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

WDAY has been the topic of several research reports. TD Cowen reissued a “hold” rating on shares of Workday in a research note on Friday, May 22nd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Workday in a research report on Friday, May 22nd. Oppenheimer reaffirmed an “outperform” rating on shares of Workday in a research report on Thursday, June 11th. Wells Fargo & Company boosted their price target on shares of Workday from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Finally, Wall Street Zen raised shares of Workday from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.00.

Key Stories Impacting Workday

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Investors appear to be re-rating Workday after its latest quarterly results showed solid revenue growth, stronger-than-expected earnings, and an increased full-year operating margin outlook, reinforcing confidence in the company’s execution and demand trends.
• Positive Sentiment: Workday’s AI and data-platform efforts are helping sentiment, including its AWS Data Cloud integration and broader AI product push, which may support future growth as enterprises spend more on AI-enabled software.
• Positive Sentiment: A market rotation into software has also lifted shares, with investors favoring names like Workday over semiconductors in the latest move across the market.
• Positive Sentiment: Wall Street sentiment has improved, highlighted by Monness Crespi & Hardt upgrading Workday to buy with a $150 price target, adding to a generally constructive analyst backdrop.
• Neutral Sentiment: Recent insider selling by major shareholder David Duffield was disclosed under a pre-arranged trading plan, which may limit its significance for day-to-day trading but is still something investors may watch.
• Negative Sentiment: Workday continues to face a lawsuit tied to alleged AI bias in job-screening tools, creating a legal overhang that could temper enthusiasm if the case escalates.

Workday Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.