Workday (NASDAQ:WDAY) Trading Down 6.5% Following Insider Selling

Workday, Inc. (NASDAQ:WDAY)’s share price traded down 6.5% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $118.95 and last traded at $119.1990. 4,957,025 shares were traded during mid-day trading, a decline of 1% from the average session volume of 5,011,710 shares. The stock had previously closed at $127.51.

Specifically, major shareholder David A. Duffield sold 107,500 shares of the stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $129.60, for a total value of $13,932,000.00. Following the completion of the transaction, the insider owned 105,049 shares of the company’s stock, valued at approximately $13,614,350.40. This trade represents a 50.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $128.22, for a total transaction of $769,320.00. Following the completion of the transaction, the chief financial officer directly owned 217,930 shares of the company’s stock, valued at approximately $27,942,984.60. The trade was a 2.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In related news, insider Robert Enslin sold 5,373 shares of the stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $129.41, for a total value of $695,319.93. Following the completion of the transaction, the insider owned 165,414 shares of the company’s stock, valued at approximately $21,406,225.74. This trade represents a 3.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Evercore downgraded shares of Workday from an “outperform” rating to an “in-line” rating and set a $160.00 price objective for the company. in a research note on Wednesday, February 25th. Piper Sandler decreased their price objective on shares of Workday from $200.00 to $135.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Raymond James Financial reissued a “market perform” rating on shares of Workday in a research note on Monday, February 9th. Citizens Jmp downgraded shares of Workday from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 18th. Finally, Loop Capital set a $210.00 price objective on shares of Workday in a research note on Thursday, March 12th. Nineteen research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $199.71.

Workday News Summary

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Workday added a financial‑wellness partner (OnePay) to its Workday Wellness/EDDS capabilities, improving employer benefit integrations and a potential incremental revenue/usage path. From Perk to Platform: OnePay Forms Partnership with Workday
• Positive Sentiment: Workday was named a Leader in Gartner’s 2026 Magic Quadrant for Higher Education Student Information Systems — a product endorsement that supports longer‑term adoption in higher‑ed recurring revenue streams. Workday Named a Leader in 2026 Gartner® Magic Quadrant™ for Higher Education Student Information Systems
• Positive Sentiment: Partner ecosystem consolidation: UST acquired Intecrowd, a Workday implementation partner, which can expand channel capacity and help accelerate deployments for customers. That supports Workday’s go‑to‑market indirectly. UST Acquires Award‑Winning Workday Partner Intecrowd
• Neutral Sentiment: Market roundups and price‑action stories summarize WDAY’s pullback vs. the market but add little new company detail. Useful for context, not a catalyst. Workday (WDAY) Stock Sinks As Market Gains: Here’s Why
• Neutral Sentiment: Analyst coverage is mixed: several early‑2026 target cuts reduced upside, but consensus remains a “Moderate Buy” with a mid‑$190s average target — this keeps longer‑term analyst support but limits near‑term enthusiasm.
• Negative Sentiment: Large insider sale: founder David Duffield sold 107,500 shares (~$13.9M) under a pre‑arranged 10b5‑1 plan, cutting his stake by ~50% — the size of the sale is significant and likely weighed on sentiment today. SEC filing: Duffield Form 4
• Negative Sentiment: Multiple insider sales (CFO Zane Rowe, Robert Enslin, Gerrit Kazmaier) — mostly executed under 10b5‑1 plans or to cover tax withholding on vested awards — added near‑term sell supply and contributed to downward pressure. Rowe Form 4 Enslin Form 4 Kazmaier Form 4
• Negative Sentiment: Negative media commentary (high‑profile opinion pieces) has flagged Workday as a relative laggard, which can amplify selling even when fundamentals (recent EPS beat and revenue growth) remain solid. Jim Cramer on Workday

Workday Trading Down 6.5%

The firm has a market capitalization of $30.63 billion, a PE ratio of 46.19, a price-to-earnings-growth ratio of 1.28 and a beta of 1.14. The stock’s 50-day moving average price is $141.00 and its 200 day moving average price is $193.52. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.15. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 7.26% and a return on equity of 13.37%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company posted $1.92 earnings per share. On average, sell-side analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Workday

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Workday by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock worth $5,371,495,000 after acquiring an additional 3,210,232 shares during the period. Auto Owners Insurance Co increased its position in shares of Workday by 25,412.8% during the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock worth $2,197,332,000 after acquiring an additional 10,190,516 shares during the period. State Street Corp increased its position in shares of Workday by 1.0% during the fourth quarter. State Street Corp now owns 9,770,707 shares of the software maker’s stock worth $2,098,552,000 after acquiring an additional 96,139 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in shares of Workday by 47.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock worth $1,406,463,000 after acquiring an additional 1,882,391 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Workday by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker’s stock worth $1,089,970,000 after acquiring an additional 75,922 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Company 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.