Auto Owners Insurance Co Acquires 10,190,516 Shares of Workday, Inc. $WDAY

Auto Owners Insurance Co grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 25,412.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,230,616 shares of the software maker’s stock after buying an additional 10,190,516 shares during the quarter. Workday comprises approximately 0.5% of Auto Owners Insurance Co’s holdings, making the stock its 23rd largest holding. Auto Owners Insurance Co’s holdings in Workday were worth $2,197,332,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. First Eagle Investment Management LLC bought a new position in shares of Workday during the third quarter valued at approximately $556,252,000. Norges Bank bought a new stake in shares of Workday in the 4th quarter worth approximately $448,804,000. Harvest Fund Management Co. Ltd grew its stake in shares of Workday by 40.1% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock worth $11,943,000 after buying an additional 15,903 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Workday by 18.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock worth $122,804,000 after buying an additional 88,384 shares during the last quarter. Finally, Morningstar Investment Management LLC increased its position in Workday by 127.2% during the 4th quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock valued at $5,808,000 after buying an additional 15,138 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday News Summary

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Embark’s acquisition of Commit expands third-party consulting capacity around Workday deployments, which could support more implementations, upgrades, and ecosystem activity for Workday (WDAY). Workday (WDAY) Why Embark’s Commit Deal Could Matter For Its Ecosystem
• Positive Sentiment: Euna Payments earning Workday certification and joining the Workday Marketplace reinforces the strength of Workday’s partner ecosystem and may improve customer adoption in public-sector finance workflows. Euna Payments Achieves Workday Certification…
• Neutral Sentiment: Analyst-style coverage comparing Q1 results across finance and HR software names puts Workday in the broader sector context, but it does not appear to include a company-specific catalyst. Q1 Earnings Highs And Lows: Workday…
• Neutral Sentiment: Coverage on AI-driven SaaS pricing changes could matter long term for Workday, but the piece is industry-wide rather than a direct update on the company. What CIOs should know about AI-driven SaaS pricing changes
• Neutral Sentiment: New AI tools positioning themselves as replacements for Oracle and Workday support services highlight rising competition around enterprise software administration, though the impact on Workday’s core business is indirect. Dayos Releases Athena: Agentic Replacement for Oracle and Workday AMS Contracts…
• Negative Sentiment: Recent analysis says Workday (WDAY) may be viewed as undervalued, but it also highlights weak momentum, with the stock down sharply over the past day, week, and year-to-date, which can weigh on investor sentiment. Workday (WDAY) Stock Could Be 31.7% Undervalued…
• Negative Sentiment: Workday has also been described as underperforming the technology sector over the past year, reinforcing concerns about relative strength versus peers. Workday Stock: Is WDAY Underperforming the Technology Sector?

Workday Stock Performance

Shares of Workday stock opened at $116.93 on Friday. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $28.88 billion, a P/E ratio of 36.54, a P/E/G ratio of 1.24 and a beta of 1.09. The company has a fifty day moving average of $127.53 and a 200 day moving average of $156.56.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.23 earnings per share. On average, sell-side analysts anticipate that Workday, Inc. will post 5.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Gerrit S. Kazmaier sold 9,356 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total transaction of $1,201,216.84. Following the transaction, the insider directly owned 165,074 shares of the company’s stock, valued at approximately $21,193,850.86. This trade represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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, insider Robert Enslin sold 5,373 shares of the company’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $129.41, for a total value of $695,319.93. Following the completion of the sale, the insider owned 165,414 shares of the company’s stock, valued at $21,406,225.74. This represents a 3.15% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 774,814 shares of company stock valued at $102,272,866 over the last 90 days. 18.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Rosenblatt Securities dropped their price target on shares of Workday from $180.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Citigroup reaffirmed a “market perform” rating on shares of Workday in a report on Friday, May 22nd. Jefferies Financial Group upped their target price on shares of Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Friday, May 22nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Workday in a report on Friday, May 22nd. Finally, Needham & Company LLC reduced their price target on shares of Workday from $300.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $185.03.

Workday Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.