Mcrae Capital Management Inc. Buys 1,541 Shares of Workday, Inc. $WDAY

Mcrae Capital Management Inc. increased its position in Workday, Inc. (NASDAQ:WDAY) by 2.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 61,819 shares of the software maker’s stock after buying an additional 1,541 shares during the quarter. Workday makes up about 3.0% of Mcrae Capital Management Inc.’s holdings, making the stock its 12th largest holding. Mcrae Capital Management Inc.’s holdings in Workday were worth $14,837,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its stake in shares of Workday by 76.1% in the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker’s stock worth $28,000 after purchasing an additional 54 shares in the last quarter. Dagco Inc. bought a new stake in Workday during the first quarter valued at about $31,000. Golden State Wealth Management LLC lifted its position in shares of Workday by 2,216.7% in the second quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock valued at $33,000 after acquiring an additional 133 shares in the last quarter. BankPlus Trust Department bought a new position in shares of Workday in the first quarter worth about $40,000. Finally, Physician Wealth Advisors Inc. purchased a new stake in shares of Workday during the second quarter worth about $42,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $224.50 on Friday. 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, Inc. has a 12 month low of $205.33 and a 12 month high of $294.00. The company has a market capitalization of $59.94 billion, a price-to-earnings ratio of 103.94, a PEG ratio of 2.89 and a beta of 1.11. The firm’s 50-day moving average is $234.94 and its 200 day moving average is $238.10.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $2.34 billion. During the same quarter in the previous year, the business earned $1.75 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Research analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WDAY shares. UBS Group set a $304.00 price objective on shares of Workday in a report on Friday, August 22nd. Stifel Nicolaus reduced their price target on shares of Workday from $275.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, August 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $265.00 price objective on shares of Workday in a report on Wednesday, September 17th. Zacks Research lowered Workday from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $300.00 target price on shares of Workday in a research report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $287.86.

Insiders Place Their Bets

In other news, insider Richard Harry Sauer sold 2,320 shares of Workday stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $235.87, for a total transaction of $547,218.40. Following the completion of the sale, the insider directly owned 90,077 shares in the company, valued at approximately $21,246,461.99. This trade represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark S. Garfield sold 1,915 shares of the company’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $238.96, for a total transaction of $457,608.40. Following the completion of the transaction, the chief accounting officer owned 37,351 shares in the company, valued at approximately $8,925,394.96. The trade was a 4.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 264,933 shares of company stock valued at $61,475,760. Insiders own 19.31% of the company’s stock.

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.