Workday shares slide as investors continue to weigh softer FY2027 outlook and post-earnings target cuts

Workday, Inc. (WDAY) is down 4.8% today. Here is some analysis on what might have caused this price movement.

Analysis: The pullback appears tied to lingering concerns from Workday’s late-February earnings update, where its fiscal 2027 subscription revenue outlook implied slower growth than many investors were positioned for. Continued analyst price-target reductions and broader SaaS valuation compression may also be pressuring the stock. If there was no single company-specific headline today, this could be a continuation of that post-guidance repricing.

Details:

Workday’s fiscal 2026 Q4 and full-year results highlighted improving profitability and growing subscription revenue backlog, but the forward setup shifted investor focus to the next year’s growth rate.

The company’s fiscal 2027 subscription revenue guidance implied roughly low-teens growth, which investors have treated as a deceleration versus prior expectations.

Workday disclosed a workforce reduction of about 2% and estimated restructuring-related charges in fiscal Q4, reflecting ongoing cost realignment.

In the weeks following results, multiple firms adjusted price targets, citing heightened competition and sector multiple pressure even while keeping generally constructive longer-term views.

Sources:

Workday Investor Relations, SEC filings, Investing.com

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$WDAY Insider Trading Activity

$WDAY insiders have traded $WDAY stock on the open market 126 times in the past 6 months. Of those trades, 0 have been purchases and 126 have been sales.

Here’s a breakdown of recent trading of $WDAY stock by insiders over the last 6 months:

DAVID A DUFFIELD has made 0 purchases and 80 sales selling 1,165,468 shares for an estimated $212,684,174.
ROBERT ENSLIN (President, CCO) has made 0 purchases and 4 sales selling 22,185 shares for an estimated $4,662,713.
ZANE ROWE (Chief Financial Officer) has made 0 purchases and 12 sales selling 12,000 shares for an estimated $2,648,209.
GERRIT S KAZMAIER (President, Prod. and Tech.) has made 0 purchases and 7 sales selling 10,306 shares for an estimated $2,216,883.
CARL M. ESCHENBACH (CEO) has made 0 purchases and 7 sales selling 9,375 shares for an estimated $2,140,754.
MICHAEL M MCNAMARA has made 0 purchases and 6 sales selling 5,393 shares for an estimated $1,268,201.
RICHARD HARRY SAUER (Chief Legal Officer & Secty) has made 0 purchases and 6 sales selling 3,450 shares for an estimated $784,520.
MARK S. GARFIELD (Chief Accounting Officer) has made 0 purchases and 4 sales selling 2,868 shares for an estimated $657,311.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$WDAY Hedge Fund Activity

We have seen 421 institutional investors add shares of $WDAY stock to their portfolio, and 762 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 12,923,642 shares (-85.9%) from their portfolio in Q4 2025, for an estimated $2,775,739,828
VANGUARD GROUP INC added 3,210,232 shares (+14.7%) to their portfolio in Q4 2025, for an estimated $689,493,628
CLEARBRIDGE INVESTMENTS, LLC removed 2,604,591 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $627,003,191
JANUS HENDERSON GROUP PLC added 2,525,821 shares (+101.4%) to their portfolio in Q4 2025, for an estimated $542,495,834
FIRST EAGLE INVESTMENT MANAGEMENT, LLC added 2,028,085 shares (+87.8%) to their portfolio in Q4 2025, for an estimated $435,592,096
T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 2,024,956 shares (-50.0%) from their portfolio in Q4 2025, for an estimated $434,920,049
POLEN CAPITAL MANAGEMENT LLC removed 1,851,489 shares (-99.4%) from their portfolio in Q4 2025, for an estimated $397,662,807

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$WDAY Congressional Stock Trading

Members of Congress have traded $WDAY stock 5 times in the past 6 months. Of those trades, 5 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $WDAY stock by members of Congress over the last 6 months:

REPRESENTATIVE GILBERT RAY CISNEROS, JR. has traded it 5 times. They made 5 purchases worth up to $75,000 on 01/28, 12/10, 10/15, 10/14, 10/07 and 0 sales.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

$WDAY Analyst Ratings

Wall Street analysts have issued reports on $WDAY in the last several months. We have seen 8 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

BTIG issued a "Buy" rating on 02/25/2026
Needham issued a "Buy" rating on 02/09/2026
RBC Capital issued a "Outperform" rating on 01/05/2026
JP Morgan issued a "Overweight" rating on 11/26/2025
TD Cowen issued a "Buy" rating on 11/26/2025
Bernstein issued a "Outperform" rating on 11/26/2025
Keybanc issued a "Overweight" rating on 11/26/2025

To track analyst ratings and price targets for $WDAY, check out Quiver Quantitative's $WDAY forecast page.

$WDAY Price Targets

Multiple analysts have issued price targets for $WDAY recently. We have seen 28 analysts offer price targets for $WDAY in the last 6 months, with a median target of $195.0.

Here are some recent targets:

Steven Enders from Citigroup set a target price of $148.0 on 02/26/2026
Karl Keirstead from UBS set a target price of $130.0 on 02/25/2026
Michael Turrin from Wells Fargo set a target price of $180.0 on 02/25/2026
Robert Simmons from Rosenblatt set a target price of $150.0 on 02/25/2026
Matthew Vanvliet from Cantor Fitzgerald set a target price of $200.0 on 02/25/2026
John Difucci from Guggenheim set a target price of $275.0 on 02/25/2026
Scott Berg from Needham set a target price of $300.0 on 02/25/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.