Assetmark Inc. Buys 3,773 Shares of Workday, Inc. $WDAY

Assetmark Inc. lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 10.5% during the second quarter, HoldingsChannel.com reports. The firm owned 39,613 shares of the software maker’s stock after purchasing an additional 3,773 shares during the quarter. Assetmark Inc.’s holdings in Workday were worth $9,507,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC raised its stake in shares of Workday by 76.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker’s stock valued at $28,000 after purchasing an additional 54 shares during the period. Dagco Inc. bought a new position in Workday in the 1st quarter worth about $31,000. BankPlus Trust Department bought a new position in Workday in the 1st quarter worth about $40,000. Physician Wealth Advisors Inc. bought a new position in Workday in the 2nd quarter worth about $42,000. Finally, Geneos Wealth Management Inc. increased its stake in Workday by 211.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after acquiring an additional 127 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WDAY. Deutsche Bank Aktiengesellschaft decreased their target price on Workday from $330.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, August 22nd. Wall Street Zen upgraded Workday from a “hold” rating to a “buy” rating in a research note on Sunday, July 13th. Canaccord Genuity Group decreased their target price on Workday from $330.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, August 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $265.00 target price on shares of Workday in a research note on Wednesday, September 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $300.00 target price on shares of Workday in a research note on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $287.83.

Insider Activity at Workday

In related news, Director Michael M. Mcnamara sold 5,393 shares of the stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $235.16, for a total transaction of $1,268,217.88. Following the completion of the sale, the director directly owned 24,078 shares in the company, valued at $5,662,182.48. This represents a 18.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $232.62, for a total value of $1,395,720.00. Following the sale, the chief financial officer owned 168,468 shares of the company’s stock, valued at $39,189,026.16. This represents a 3.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 264,933 shares of company stock worth $61,475,760 over the last three months. Corporate insiders own 19.31% of the company’s stock.

Workday Price Performance

WDAY opened at $239.92 on Friday. The stock has a market capitalization of $64.06 billion, a P/E ratio of 111.07, a PEG ratio of 2.99 and a beta of 1.10. Workday, Inc. has a 12-month low of $205.33 and a 12-month high of $294.00. The stock has a 50-day moving average price of $234.48 and a 200-day moving average price of $237.96. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.33.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 9.74% and a net margin of 6.51%.Workday’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.75 EPS. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Equities analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

About Workday

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.