Summit Investment Advisors Inc. Raises Stock Holdings in Workday, Inc. $WDAY

Summit Investment Advisors Inc. lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 2.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,080 shares of the software maker’s stock after acquiring an additional 228 shares during the period. Summit Investment Advisors Inc.’s holdings in Workday were worth $2,120,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Nuveen LLC acquired a new position in shares of Workday in the first quarter valued at approximately $456,341,000. T. Rowe Price Investment Management Inc. grew its position in Workday by 47.5% in 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 buying an additional 1,211,659 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Workday by 35.6% in 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 buying an additional 913,613 shares during the period. Generation Investment Management LLP raised its position in Workday by 36.6% during the 1st quarter. Generation Investment Management LLP now owns 2,903,767 shares of the software maker’s stock worth $678,117,000 after buying an additional 778,301 shares during the last quarter. Finally, Parnassus Investments LLC lifted its stake in shares of Workday by 22.4% in the 1st quarter. Parnassus Investments LLC now owns 2,996,429 shares of the software maker’s stock worth $699,756,000 after acquiring an additional 548,694 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Workday

In related news, Director Michael M. Mcnamara sold 5,393 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $235.16, for a total transaction of $1,268,217.88. Following the completion of the transaction, the director owned 24,078 shares of the company’s stock, valued at approximately $5,662,182.48. This represents a 18.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 75,053 shares of the stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $236.34, for a total transaction of $17,738,026.02. Following the transaction, the insider directly owned 102,997 shares in the company, valued at approximately $24,342,310.98. This represents a 42.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 264,933 shares of company stock valued at $61,475,760 in the last quarter. Insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of Workday from $260.00 to $261.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. UBS Group set a $304.00 target price on Workday in a research note on Friday, August 22nd. KeyCorp decreased their price target on Workday from $325.00 to $285.00 and set an “overweight” rating on the stock in a research note on Friday, August 22nd. Barclays upped their price objective on Workday from $285.00 to $288.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Finally, Piper Sandler raised Workday from an “underweight” rating to a “neutral” rating and raised their target price for the company from $220.00 to $235.00 in a report on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $287.86.

Workday Price Performance

WDAY stock opened at $225.17 on Monday. The stock’s 50 day moving average price is $234.83 and its 200 day moving average price is $238.39. The firm has a market cap of $60.12 billion, a P/E ratio of 104.25, a PEG ratio of 2.81 and a beta of 1.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.10 and a current ratio of 2.10. Workday, Inc. has a 1 year low of $205.33 and a 1 year high of $294.00.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.12. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.34 billion. Workday had a net margin of 6.51% and a return on equity of 9.74%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.75 EPS. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, sell-side analysts expect 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.