Keybanc Rates Workday (WDAY) Sector Perform

Keybanc has downgraded Workday, Inc. (WDAY) to a 'Sector Perform' rating on October 16, 2026. The firm did not provide a new price target with this change. Workday's shares were recently trading at $190.13.

Other Institutional Activity in Workday

Several institutional investors have adjusted their positions in Workday recently. Blackrock Inc. increased its holdings by 1,046,160 shares, bringing its total to 21,126,013 shares valued at approximately $4.03 billion. Meanwhile, Hotchkis & Wiley Capital Management, LLC added 2,023,503 shares, resulting in a total of 12,679,129 shares worth about $2.42 billion. Eagle Capital Management LLC also boosted its stake by 2,616,506 shares, now holding 11,323,681 shares valued at around $2.16 billion. Conversely, Vanguard Capital Management LLC reduced its position by 612,810 shares, ending with 13,220,374 shares worth about $2.52 billion.

Workday, Inc. Stock Up 1.1%

Workday's stock is currently trading at $190.13, which is below its 50-day moving average of $190.52, suggesting a slight downturn in short-term performance. The stock is also down about 23.1% from its 52-week high of $247.40, but it's trading 72.3% above its 52-week low of $110.36. This reflects a mixed performance in the current market environment.

Recent Earnings

Workday reported a trailing twelve-month revenue of approximately $10.15 billion and earnings per share (EPS) of $4.91. The company has shown a year-over-year revenue growth of 12.8%. The next earnings report is scheduled for December 1, 2026.

Insider Buying and Selling at Workday, Inc.

Recent insider transactions include David A. Duffield, a major shareholder, selling 99,228 shares on October 6, 2026, valued at about $18.59 million. On the same day, Chief Financial Officer Zane C Rowe sold 6,000 shares worth approximately $1.12 million. Duffield sold another 99,835 shares on October 9, 2026, valued at about $18.72 million. Mark S. Garfield, an officer, sold 918 shares on October 12, 2026, for about $173,915.

Analysts Set New Price Targets

On October 5, 2026, Needham reiterated a 'Buy' rating for Workday with a price target of $230. Jefferies maintained a 'Hold' rating with a target of $210 on October 8, 2026. UBS also kept a 'Neutral' rating with a $210 target on October 14, 2026. Stifel maintained a 'Hold' rating but raised its target to $175 on October 15, 2026. The consensus among analysts is a 'Buy' rating with a mean price target of $207.92, based on 37 opinions.

About Workday

Workday, Inc. provides enterprise cloud applications that help companies manage their financial processes and operations. Founded in Pleasanton, California, the company focuses on delivering tools for financial management, accounting, and real-time insights, making it a key player in the technology sector.

Bottom Line

Investors should keep an eye on Workday's upcoming earnings report on December 1, 2026, and how the market reacts to Keybanc's recent downgrade. With its stock trading below the average price target, further developments may present new opportunities for investors.