State of Alaska Department of Revenue Sells 6,282 Shares of Workday, Inc. $WDAY

State of Alaska Department of Revenue decreased its holdings in Workday, Inc. (NASDAQ:WDAY) by 24.8% in the third quarter, Holdings Channel.com reports. The firm owned 19,047 shares of the software maker’s stock after selling 6,282 shares during the period. State of Alaska Department of Revenue’s holdings in Workday were worth $3,627,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lakehouse Capital Pty Ltd boosted its position in Workday by 77.9% during the third quarter. Lakehouse Capital Pty Ltd now owns 43,773 shares of the software maker’s stock valued at $8,337,000 after buying an additional 19,174 shares during the period. Plato Investment Management Ltd bought a new position in shares of Workday during the second quarter valued at about $1,115,000. S&CO Inc. bought a new position in shares of Workday during the second quarter valued at about $2,284,000. Sapient Capital LLC bought a new position in shares of Workday during the second quarter valued at about $13,045,000. Finally, Fluent Financial LLC purchased a new position in shares of Workday in the second quarter worth about $2,249,000. Institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

WDAY has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Workday in a research note on Wednesday, September 30th. Jefferies Financial Group dropped their target price on Workday from $220.00 to $210.00 and set a “hold” rating for the company in a report on Thursday, October 8th. Guggenheim restated a “buy” rating and set a $275.00 price target on shares of Workday in a research report on Friday, August 21st. TD Cowen reduced their price target on Workday from $220.00 to $210.00 and set a “hold” rating on the stock in a research report on Friday, August 28th. Finally, Weiss Ratings raised Workday from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 18th. Nineteen research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $205.03.

Insider Activity at Workday

In other news, insider Robert Enslin sold 5,374 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $187.00, for a total transaction of $1,004,938.00. Following the completion of the sale, the insider directly owned 226,233 shares in the company, valued at approximately $42,305,571. This represents a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David Duffield sold 99,835 shares of the firm’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $187.55, for a total value of $18,724,054.25. Following the completion of the sale, the insider directly owned 105,049 shares in the company, valued at $19,701,939.95. The trade was a 48.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 988,104 shares of company stock valued at $188,811,574 in the last quarter. 18.64% of the stock is currently owned by company insiders.

Key Stories Impacting Workday

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Workday’s agentic-AI strategy remains a potential long-term growth driver. BTIG said the company’s investor-day presentation showed progress with Sana, Decision Intelligence and other AI products that could support customer adoption and future monetization. BTIG Workday AI analysis
• Positive Sentiment: Workday’s agreement to acquire C1.ai could strengthen identity, security and governance capabilities for employees and AI agents, although financial terms and the earnings impact were not disclosed. Workday C1.ai acquisition coverage
• Neutral Sentiment: BTIG maintained a Hold rating, saying AI monetization is still at an early stage and the stock’s valuation appears broadly fair. BTIG Hold rating
• Negative Sentiment: Stifel raised its price target to $175 but kept a Hold rating, leaving the target below the recent trading level and reinforcing valuation concerns. Stifel price target update
• Negative Sentiment: Multiple cautious analyst notes are offsetting the bullish AI narrative. Investors are questioning whether slowing growth and tighter HR spending will delay returns on Workday’s AI investments, while insider sales—including a Rule 10b5-1 sale of 918 shares by Chief Accounting Officer Mark Garfield—add modestly negative sentiment. Workday insider sale

Workday Trading Down 3.0%

Shares of WDAY opened at $190.81 on Friday. The stock has a market capitalization of $45.99 billion, a P/E ratio of 38.70, a PEG ratio of 1.91 and a beta of 1.07. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $191.78 and a two-hundred day simple moving average of $153.66. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $247.40.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.14. Workday had a net margin of 12.32% and a return on equity of 20.95%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter last year, the firm earned $2.21 EPS. The company’s revenue was up 12.8% on a year-over-year basis. On average, research analysts anticipate that Workday, Inc. will post 5.33 EPS for the current year.

About Workday

Workday, Inc develops cloud-based enterprise software for managing an organization’s people, finances and operations. Its platform is primarily used by businesses, government agencies and educational institutions to support human resources, finance, planning, analytics and related administrative processes.

The company’s offerings include Workday Human Capital Management, Financial Management, Adaptive Planning, Spend Management, payroll, recruiting, talent management, learning and workforce analytics.