Workday slides as post-earnings guidance concerns and analyst downgrades weigh on shares

Workday, Inc. (WDAY) is down 4.5% today. Here is some analysis on what might have caused this price movement.

Analysis: The drop likely reflects continued fallout from Workday’s late-February earnings update, where its fiscal 2027 outlook (especially subscription revenue expectations) came in softer than investors wanted. A fresh wave of analyst rating changes and price-target cuts tied to deal timing and growth deceleration appears to be keeping pressure on the stock.

Details:

Workday’s fiscal 2027 subscription revenue guidance range was viewed as light versus Street expectations, despite a quarterly results beat.

Management commentary pointed to heavier investment (including AI-related spending) that could limit near-term margin expansion, which can weigh on high-multiple software stocks.

At least one major brokerage downgrade cited deal slippage and modeled lower organic growth for fiscal 2027, shifting the near-term risk/reward setup.

Additional rating changes and price-target reductions following the earnings release reinforced the idea that growth may be moderating after several years of stronger expansion.

Sources:

Workday Investor Relations (earnings release), Yahoo Finance, StreetInsider

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 120 times in the past 6 months. Of those trades, 0 have been purchases and 120 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 72 sales selling 936,532 shares for an estimated $189,512,707.
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.
RICHARD HARRY SAUER (Chief Legal Officer & Secty) has made 0 purchases and 8 sales selling 5,770 shares for an estimated $1,320,486.
MICHAEL M MCNAMARA has made 0 purchases and 6 sales selling 5,393 shares for an estimated $1,268,201.
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 760 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
AUTO-OWNERS INSURANCE CO added 10,200,766 shares (+34173.4%) to their portfolio in Q4 2025, for an estimated $2,190,920,521
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

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 6 times in the past 6 months. Of those trades, 6 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 6 times. They made 6 purchases worth up to $125,000 on 01/28, 12/10, 10/15, 10/14, 10/07, 09/22 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 9 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
Guggenheim issued a "Buy" rating on 11/26/2025
Keybanc issued a "Overweight" rating on 11/26/2025
TD Cowen issued a "Buy" rating on 11/26/2025
JP Morgan 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 29 analysts offer price targets for $WDAY in the last 6 months, with a median target of $200.0.

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
Matthew Vanvliet from Cantor Fitzgerald set a target price of $200.0 on 02/25/2026
Scott Berg from Needham set a target price of $300.0 on 02/25/2026
John Difucci from Guggenheim set a target price of $275.0 on 02/25/2026
Rishi Jaluria from RBC Capital set a target price of $180.0 on 02/25/2026
Keith Weiss from Morgan Stanley set a target price of $185.0 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.