Bristlecone Advisors LLC Cuts Holdings in Workday, Inc. $WDAY

Bristlecone Advisors LLC cut its position in shares of Workday, Inc. (NASDAQ:WDAY) by 55.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,330 shares of the software maker’s stock after selling 1,638 shares during the quarter. Bristlecone Advisors LLC’s holdings in Workday were worth $319,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WDAY. Cornerstone Planning Group LLC lifted 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 buying an additional 54 shares in the last quarter. Dagco Inc. bought a new stake in Workday during the 1st quarter worth approximately $31,000. BankPlus Trust Department bought a new position in shares of Workday in the 1st quarter worth $40,000. Physician Wealth Advisors Inc. bought a new position in shares of Workday in the 2nd quarter worth $42,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of 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 buying an additional 127 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In other news, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer owned 168,468 shares of the company’s stock, valued at approximately $39,189,026.16. The trade was a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 78,564 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $220.12, for a total transaction of $17,293,507.68. Following the completion of the transaction, the insider directly owned 102,997 shares in the company, valued at $22,671,699.64. This trade represents a 43.27% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 264,933 shares of company stock valued at $61,475,760. 19.31% of the stock is owned by corporate insiders.

Workday Stock Performance

WDAY opened at $231.36 on Thursday. The firm has a market cap of $61.77 billion, a P/E ratio of 107.11, a PEG ratio of 2.95 and a beta of 1.10. Workday, Inc. has a 1-year low of $205.33 and a 1-year high of $294.00. The company has a 50 day simple moving average of $234.00 and a two-hundred day simple moving average of $237.91. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.10 and a quick ratio of 2.10.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 21st. The software maker reported $2.21 EPS for the quarter, topping the consensus estimate of $2.09 by $0.12. Workday had a net margin of 6.51% and a return on equity of 9.74%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the previous year, the firm earned $1.75 earnings per share. The company’s quarterly revenue 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. Equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on WDAY. Wells Fargo & Company reduced their target price on shares of Workday from $325.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, August 18th. Guggenheim raised shares of Workday from a “neutral” rating to a “buy” rating and set a $285.00 target price for the company in a research report on Wednesday, September 17th. JMP Securities reiterated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research note on Wednesday, September 17th. JPMorgan Chase & Co. reduced their price objective on shares of Workday from $295.00 to $290.00 and set an “overweight” rating for the company in a research note on Friday, August 22nd. Finally, Citigroup reduced their price objective on shares of Workday from $279.00 to $260.00 and set a “neutral” rating for the company in a research note on Friday, August 22nd. Three 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $287.83.

Workday Company 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.