Frank Rimerman Advisors LLC Decreases Holdings in Workday, Inc. $WDAY

Frank Rimerman Advisors LLC lowered its position in Workday, Inc. (NASDAQ:WDAY) by 9.2% during the second quarter, HoldingsChannel.com reports. The fund owned 4,407 shares of the software maker’s stock after selling 445 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Workday were worth $1,058,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dagco Inc. acquired a new stake in Workday in the first quarter valued at $31,000. Golden State Wealth Management LLC raised its stake in shares of Workday by 2,216.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock worth $33,000 after buying an additional 133 shares during the last quarter. Physician Wealth Advisors Inc. purchased a new stake in shares of Workday in the 2nd quarter worth about $42,000. Geneos Wealth Management Inc. grew 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 valued at $44,000 after acquiring an additional 127 shares during the last quarter. Finally, IMA Advisory Services Inc. purchased a new position in Workday during the 1st quarter valued at about $47,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WDAY has been the topic of several recent research reports. TD Cowen reduced their price target on shares of Workday from $310.00 to $290.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. DA Davidson lifted their price objective on Workday from $225.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, September 19th. Barclays increased their target price on Workday from $285.00 to $288.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. Deutsche Bank Aktiengesellschaft cut their price target on Workday from $330.00 to $280.00 and set a “buy” rating for the company in a report on Friday, August 22nd. Finally, Zacks Research lowered Workday from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $287.86.

Insider Buying and Selling

In related news, insider Richard Harry Sauer sold 2,320 shares of the firm’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $235.87, for a total value of $547,218.40. Following the sale, the insider directly owned 90,077 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark S. Garfield sold 1,915 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $238.96, for a total transaction of $457,608.40. Following the transaction, the chief accounting officer directly owned 37,351 shares of the company’s stock, valued at $8,925,394.96. This trade represents a 4.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 264,933 shares of company stock worth $61,475,760 over the last ninety days. Insiders own 20.00% of the company’s stock.

Workday Trading Up 0.3%

Shares of WDAY opened at $225.64 on Wednesday. Workday, Inc. has a fifty-two week low of $205.33 and a fifty-two week high of $294.00. The company has a market capitalization of $60.25 billion, a PE ratio of 104.46, a price-to-earnings-growth ratio of 2.80 and a beta of 1.11. The stock has a fifty day moving average of $234.19 and a two-hundred day moving average of $237.58. 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 (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 21st. The software maker reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.12. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.34 billion. Workday had a return on equity of 9.74% and a net margin of 6.51%.The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.75 earnings per share. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, analysts forecast that Workday, Inc. will post 2.63 EPS for the current 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.