Envestnet Asset Management Inc. Decreases Stock Position in Workday, Inc. $WDAY

Envestnet Asset Management Inc. lessened its position in Workday, Inc. (NASDAQ:WDAY) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 713,910 shares of the software maker’s stock after selling 12,935 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Workday were worth $171,334,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted its position in Workday by 76.1% during the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker’s stock worth $28,000 after buying an additional 54 shares in the last quarter. Dagco Inc. purchased a new position in Workday during the first quarter worth approximately $31,000. BankPlus Trust Department purchased a new position in Workday during the first quarter worth approximately $40,000. Physician Wealth Advisors Inc. purchased a new position in Workday during the second quarter worth approximately $42,000. Finally, Geneos Wealth Management Inc. lifted its position in Workday by 211.7% during the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after buying an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Mark S. Garfield sold 1,915 shares of Workday stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $238.96, for a total value of $457,608.40. Following the completion of the sale, the chief accounting officer directly owned 37,351 shares of the company’s stock, valued at approximately $8,925,394.96. The trade was a 4.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael M. Mcnamara sold 5,393 shares of Workday stock in a transaction on Friday, October 10th. The shares were sold at an average price of $235.16, for a total value of $1,268,217.88. Following the completion of the sale, the director directly owned 24,078 shares of the company’s stock, valued at $5,662,182.48. The trade was a 18.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 264,933 shares of company stock valued at $61,475,760. Insiders own 19.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Evercore ISI lifted their price objective on Workday from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Guggenheim upgraded Workday from a “neutral” rating to a “buy” rating and set a $285.00 price objective on the stock in a research report on Wednesday, September 17th. Wells Fargo & Company cut their target price on Workday from $325.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, August 18th. TD Cowen cut their target price on Workday from $310.00 to $290.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. Finally, Needham & Company LLC reissued a “buy” rating and set a $300.00 target price on shares of Workday in a research note on Wednesday, September 17th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.83.

Workday Trading Down 1.6%

Shares of NASDAQ WDAY opened at $238.91 on Tuesday. Workday, Inc. has a twelve month low of $205.33 and a twelve month high of $294.00. 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 fifty day simple moving average of $233.78 and a 200-day simple moving average of $237.79. The stock has a market capitalization of $63.79 billion, a PE ratio of 110.61, a PEG ratio of 3.05 and a beta of 1.10.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, August 21st. The software maker reported $2.21 earnings per share 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 business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the firm posted $1.75 earnings per share. The company’s revenue was up 12.6% on a year-over-year basis. 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 year.

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.