Deepwater Asset Management LLC Buys New Shares in Workday, Inc. $WDAY

Posted by Nicole Kennedy on Mar 4th, 2026

Deepwater Asset Management LLC bought a new position in shares of Workday, Inc. (NASDAQ:WDAY – Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 53,236 shares of the software maker’s stock, valued at approximately $12,816,000. Workday makes up approximately 5.1% of Deepwater Asset Management LLC’s portfolio, making the stock its 8th largest position.

A number of other hedge funds have also recently bought and sold shares of the stock. Rakuten Securities Inc. acquired a new position in shares of Workday during the 2nd quarter worth approximately $25,000. Berbice Capital Management LLC grew its stake in shares of Workday by 136.4% in the second quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock valued at $31,000 after buying an additional 75 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Workday by 2,216.7% during the second 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. Root Financial Partners LLC acquired a new position in Workday during the third quarter worth $40,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Workday during the second quarter worth $41,000. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Performance

WDAY opened at $143.61 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.83. The business has a fifty day simple moving average of $176.41 and a 200 day simple moving average of $210.59. Workday, Inc. has a 1 year low of $117.76 and a 1 year high of $276.00. The company has a market capitalization of $37.77 billion, a PE ratio of 55.66, a price-to-earnings-growth ratio of 1.31 and a beta of 1.16.

Workday (NASDAQ:WDAY – Get Free Report) last posted its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.15. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a return on equity of 13.37% and a net margin of 7.26%.The company’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.92 earnings per share. Research analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 82,884 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $209.75, for a total transaction of $17,384,919.00. Following the transaction, the insider owned 105,049 shares in the company, valued at $22,034,027.75. This represents a 44.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $208.75, for a total transaction of $1,252,500.00. Following the transaction, the chief financial officer directly owned 159,158 shares in the company, valued at $33,224,232.50. This represents a 3.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 288,296 shares of company stock worth $61,461,516. Company insiders own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WDAY. Citizens Jmp downgraded shares of Workday from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 18th. Oppenheimer cut their target price on shares of Workday from $200.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Piper Sandler lowered their price target on Workday from $200.00 to $135.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Rosenblatt Securities dropped their price objective on Workday from $180.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Finally, Robert W. Baird set a $195.00 target price on Workday in a research note on Tuesday, February 24th. Twenty equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.19.

Read Our Latest Stock Report on Workday

Trending Headlines about Workday

Here are the key news stories impacting Workday this week:

Positive Sentiment: Workday expanded its HR partner ecosystem — adding HR Acuity and launching a joint solution with Insperity (Insperity HRScale) — which can boost adoption among small/mid-size employers and strengthen HCM stickiness. HR Acuity Joins the Workday Innovation Partner Program
Positive Sentiment: Positive industry commentary from Sequoia partner Alfred Lin — saying software remains an attractive area to invest despite AI-driven fears — lifts sentiment for large SaaS names like Workday that sell mission‑critical HR/finance platforms. Why Sequoia’s Alfred Lin isn’t worried about the SaaS-pocalypse
Positive Sentiment: Market commentary debating whether Workday marked a bottom for the SaaS group has likely encouraged buyers looking for cyclical recovery plays in enterprise software. Did Workday Help Signal the SaaS Bottom?
Neutral Sentiment: Wall Street analyst coverage and “average brokerage recommendation” stories (and Zacks pieces) are keeping attention on WDAY; analyst optimism can amplify intraday moves but is often noisy and may already be priced in. Is It Worth Investing in Workday (WDAY) Based on Wall Street’s Bullish Views? Zacks: Is It Worth Investing in Workday?
Negative Sentiment: A Seeking Alpha piece lowered its fair‑value estimate and argues Workday’s fundamentals don’t justify current multiples, echoing valuation concerns (WDAY trades with a high P/E and remains below its 50/200‑day moving averages), which can cap upside if sentiment shifts. Workday: I’m Lowering My Fair Value Estimate…

About Workday

(Free Report)

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.