Summit Financial LLC Sells 718 Shares of Workday, Inc. $WDAY

Summit Financial LLC lowered its stake in Workday, Inc. (NASDAQ:WDAY) by 9.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,644 shares of the software maker’s stock after selling 718 shares during the quarter. Summit Financial LLC’s holdings in Workday were worth $1,552,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Cornerstone Planning Group LLC lifted its stake in Workday by 76.1% in the first 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 position in Workday in the first quarter valued at approximately $31,000. Farmers & Merchants Investments Inc. bought a new position in Workday in the first quarter valued at approximately $32,000. Financial Management Professionals Inc. lifted its stake in Workday by 54.0% in the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker’s stock valued at $36,000 after buying an additional 54 shares in the last quarter. Finally, Pinnacle Bancorp Inc. bought a new position in Workday in the first quarter valued at approximately $40,000. Institutional investors own 89.81% of the company’s stock.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 73,971 shares of the company’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $238.66, for a total value of $17,653,918.86. Following the transaction, the insider directly owned 102,997 shares in the company, valued at $24,581,264.02. The trade was a 41.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the completion of the transaction, the chief executive officer owned 1,472 shares in the company, valued at approximately $352,440.96. This represents a 80.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 329,005 shares of company stock valued at $79,203,523. Corporate insiders own 19.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Loop Capital lowered their price objective on shares of Workday from $285.00 to $250.00 and set a “hold” rating on the stock in a report on Friday, May 23rd. Canaccord Genuity Group lowered their price objective on shares of Workday from $330.00 to $275.00 and set a “buy” rating on the stock in a report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price objective on shares of Workday in a report on Friday. KeyCorp lowered their price objective on shares of Workday from $325.00 to $285.00 and set an “overweight” rating on the stock in a report on Friday. Finally, DA Davidson lifted their price objective on shares of Workday from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Friday, May 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $283.76.

Workday Price Performance

Shares of WDAY opened at $221.27 on Friday. The company has a market cap of $59.08 billion, a price-to-earnings ratio of 102.44, a PEG ratio of 3.44 and a beta of 1.24. Workday, Inc. has a 1-year low of $205.33 and a 1-year high of $294.00. The company’s fifty day simple moving average is $232.39 and its 200 day simple moving average is $242.71. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.33.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, August 21st. The software maker reported $2.21 EPS for the quarter, beating the consensus estimate of $2.09 by $0.12. Workday had a net margin of 6.51% and a return on equity of 9.83%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the company earned $1.75 earnings per share. The company’s quarterly revenue was up 12.6% on a year-over-year basis. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Workday 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.