1 hr. ago
Eagle Capital Management, an investment management company, released its second quarter 2026 investor letter. A copy of the letter can be downloaded here. In the quarter, Eagle Capital Management discussed how enthusiasm around AI capital spending has driven strong S&P 500 earnings growth while also increasing risks from elevated valuations, concentrated demand, and aggressive investment ******* umptions. Eagle remains a strong believer in AI but prefers constructing a portfolio that can perform across multiple outcomes rather than relying on one forecast. The firm believes current earnings can overstate underlying economics because semiconductor equipment is depreciated over several years, while free cash flow growth remains much weaker. It also expects competition and additional capacity across AI labs, hyperscalers, and semiconductors to eventually create winners and losers. These dynamics are encouraging Eagle to recycle capital toward attractive opportunities outside the most crowded AI trades while maintaining selective exposure to high quality beneficiaries. The portfolio trades at a 20% market discount with faster expected EPS growth. Please review the Strategy's top five holdings for key selections.
In its second-quarter 2026 investor letter, Eagle Capital Management highlighted Workday, Inc. (NASDAQ:WDAY). Workday, Inc. (NASDAQ:WDAY) is a leading enterprise software company that provides cloud applications for human resources and financial management. On August 18, 2026, Workday, Inc. (NASDAQ:WDAY) closed at $190.64 per share. One-month return of Workday, Inc. (NASDAQ:WDAY) was 43.96% and its shares gained -16.20% over the past 52 weeks. Workday, Inc. (NASDAQ:WDAY) has a market capitalization of $47.09 billion.
Eagle Capital Management stated the following regarding Workday, Inc. (NASDAQ:WDAY) in its Q2 2026 investor letter:
"Software is controversial due to fears of Al-driven disruption. Al makes it easier to build software and will change workflows in how it is used. We believe there will be heightened competition and greater separation between winners and losers over the coming years. The industry is deservedly trading at a higher risk premium, but within the market there are plenty of mispricings.
The companies we own are resilient and highly entrenched in application software. We view them as offering upside optionality. Workday, Inc. (NASDAQ:WDAY), a leading HCM and financials platform, earns mid-teen margins on a business that should have long- term margins of 30% or higher. The founder's return to the CEO role is reigniting product innovation, and we increasingly believe Al will be a net positive for their business, enabling them to play offense. Examples include geographic expansion, adjacent-product extensions, and natural-language querying for business results. We expect EPS growth in the high teens, driven by revenue growth, operating leverage, and share buybacks."
#workday #wday #eagle #Growth
In its second-quarter 2026 investor letter, Eagle Capital Management highlighted Workday, Inc. (NASDAQ:WDAY). Workday, Inc. (NASDAQ:WDAY) is a leading enterprise software company that provides cloud applications for human resources and financial management. On August 18, 2026, Workday, Inc. (NASDAQ:WDAY) closed at $190.64 per share. One-month return of Workday, Inc. (NASDAQ:WDAY) was 43.96% and its shares gained -16.20% over the past 52 weeks. Workday, Inc. (NASDAQ:WDAY) has a market capitalization of $47.09 billion.
Eagle Capital Management stated the following regarding Workday, Inc. (NASDAQ:WDAY) in its Q2 2026 investor letter:
"Software is controversial due to fears of Al-driven disruption. Al makes it easier to build software and will change workflows in how it is used. We believe there will be heightened competition and greater separation between winners and losers over the coming years. The industry is deservedly trading at a higher risk premium, but within the market there are plenty of mispricings.
The companies we own are resilient and highly entrenched in application software. We view them as offering upside optionality. Workday, Inc. (NASDAQ:WDAY), a leading HCM and financials platform, earns mid-teen margins on a business that should have long- term margins of 30% or higher. The founder's return to the CEO role is reigniting product innovation, and we increasingly believe Al will be a net positive for their business, enabling them to play offense. Examples include geographic expansion, adjacent-product extensions, and natural-language querying for business results. We expect EPS growth in the high teens, driven by revenue growth, operating leverage, and share buybacks."
#workday #wday #eagle #Growth
2 days ago
At least one Wall Street ******* yst is skeptical that private equity firm Silver Lake will pull off a deal to acquire software maker Workday (WDAY). Workday stock popped on Feb. 13 amid reports of Silver Lake's interest but has cooled off the next two trading sessions.
In early 2026, Workday Cofounder and Executive Chairman Aneel Bhusri returned as chief executive officer. Slowing subscription revenue growth has pressured Workday stock. UBS ******* yst Karl Keirstead in a report on Monday said that private equity firm Silver Lake in unlikely to buy out the enterprise software maker.
"From the perspective of Workday, the founder only returned to the CEO role in February with an apparent mission to invest in the AI suite and accelerate growth," Keirstead said. "For him (and the board) to turn around in a matter of months and negotiate a sale, at a historically depressed free cash flow multiple and before any material time for Workday to realize any upside from these investments, strikes us as very surprising."
Second-quarter earnings are due for Workday stock on Aug. 27.
Other software stocks, including SAP (SAP) and Oracle (ORCL), climbed last week amid speculation over a Workday buyout. There has been growing investor concern that software-as-a-service companies could be disrupted by artificial intelligence-driven competition, an event referred to as a" SaaSpocalypse."
#private
In early 2026, Workday Cofounder and Executive Chairman Aneel Bhusri returned as chief executive officer. Slowing subscription revenue growth has pressured Workday stock. UBS ******* yst Karl Keirstead in a report on Monday said that private equity firm Silver Lake in unlikely to buy out the enterprise software maker.
"From the perspective of Workday, the founder only returned to the CEO role in February with an apparent mission to invest in the AI suite and accelerate growth," Keirstead said. "For him (and the board) to turn around in a matter of months and negotiate a sale, at a historically depressed free cash flow multiple and before any material time for Workday to realize any upside from these investments, strikes us as very surprising."
Second-quarter earnings are due for Workday stock on Aug. 27.
Other software stocks, including SAP (SAP) and Oracle (ORCL), climbed last week amid speculation over a Workday buyout. There has been growing investor concern that software-as-a-service companies could be disrupted by artificial intelligence-driven competition, an event referred to as a" SaaSpocalypse."
#private
3 days ago
For much of 2026, software investors have been grappling with a terrifying question: What if artificial intelligence makes many of the apps that firms have spent decades buying considerably less valuable?
If Workday (WDAY) is acquired, that argument could lead Wall Street to reconsider how far it has gone.
Shares of Workday jumped about 18% after it emerged that Silver Lake, a technology-focused private-equity group, was considering an acquisition of the human-resources and financial-management software company.
The development helped raise Workday's market capitalization to more than $51 billion. But talks could still break down, and no deal has been announced.
The valuation is way bigger than Workday.
#shares
If Workday (WDAY) is acquired, that argument could lead Wall Street to reconsider how far it has gone.
Shares of Workday jumped about 18% after it emerged that Silver Lake, a technology-focused private-equity group, was considering an acquisition of the human-resources and financial-management software company.
The development helped raise Workday's market capitalization to more than $51 billion. But talks could still break down, and no deal has been announced.
The valuation is way bigger than Workday.
#shares
3 days ago
Workday, Inc. (NASDAQ:WDAY) recently experienced its best trading day since 2016, even though the company has yet to confirm anything has happened. Shares of the human-resources and finance software producer rose about 18% on August 13 after Reuters reported that private equity firm Silver Lake is in talks to acquire the company, in a deal that would rank among the largest software buyouts in history. The stock fluctuated even more wildly intraday, rising as much as 26% to $220.50 before being halted for volatility several times in the afternoon.
According to Reuters, Silver Lake and Workday, Inc. (NASDAQ:WDAY) have carried out negotiations regarding a potential takeover in recent months, but the talks are still ongoing, with no guaranty that a transaction would occur. According to one source, Silver Lake may seek other investors to ******* ist in financing the deal, which would be one of the firm's largest technology investments to date. Workday's market value was around $43 billion before the report, and a full buyout at anything close to a typical takeover premium would place the deal in rare territory for software leveraged buyouts, while also representing the latest sign of private equity interest for large tech targets reviving after a number of quiet years.
The stock has been under pressure for much of 2026, trading more than 40% lower than its 2024 top, as investors have grown concerned that AI technologies could destroy the value of traditional enterprise software. Leadership has already responded to that pressure: Aneel Bhusri, who co-founded Workday, Inc. (NASDAQ:WDAY) in 2005, returned to the CEO post in February for the mission of guiding the company during what it refers to as the rapidly evolving AI age. A private equity firm willing to pay a premium for a company that the market has been discounting due to AI disruption fears indicates that at least one sophisticated buyer sees more value in Workday's roughly 11,500 customers, which include Netflix, U.S. Bank, and Johns Hopkins University, than its depressed valuation suggests.
The bullish argument is that Silver Lake's reported interest may highlight value in Workday that has been obscured by the market's AI concerns. Going private would allow Bhusri to invest in an AI transition away from quarterly public scrutiny, a logic that has prompted a number of other software acquisitions in recent years.
That said, talks are still ongoing with no guarantee of a deal, and the stock's strong intraday movement before repeated volatility halts shows how much of the move is speculative positioning rather than ******* urance. Short interest of 12.74% indicates that a significant number of investors are still betting against the stock even before the report of the takeover emerged. Such skepticism reflects uncertainty that a deal would close at these levels or that AI-disruption worries will be properly addressed even under new ownership.
#NASDAQ #even
According to Reuters, Silver Lake and Workday, Inc. (NASDAQ:WDAY) have carried out negotiations regarding a potential takeover in recent months, but the talks are still ongoing, with no guaranty that a transaction would occur. According to one source, Silver Lake may seek other investors to ******* ist in financing the deal, which would be one of the firm's largest technology investments to date. Workday's market value was around $43 billion before the report, and a full buyout at anything close to a typical takeover premium would place the deal in rare territory for software leveraged buyouts, while also representing the latest sign of private equity interest for large tech targets reviving after a number of quiet years.
The stock has been under pressure for much of 2026, trading more than 40% lower than its 2024 top, as investors have grown concerned that AI technologies could destroy the value of traditional enterprise software. Leadership has already responded to that pressure: Aneel Bhusri, who co-founded Workday, Inc. (NASDAQ:WDAY) in 2005, returned to the CEO post in February for the mission of guiding the company during what it refers to as the rapidly evolving AI age. A private equity firm willing to pay a premium for a company that the market has been discounting due to AI disruption fears indicates that at least one sophisticated buyer sees more value in Workday's roughly 11,500 customers, which include Netflix, U.S. Bank, and Johns Hopkins University, than its depressed valuation suggests.
The bullish argument is that Silver Lake's reported interest may highlight value in Workday that has been obscured by the market's AI concerns. Going private would allow Bhusri to invest in an AI transition away from quarterly public scrutiny, a logic that has prompted a number of other software acquisitions in recent years.
That said, talks are still ongoing with no guarantee of a deal, and the stock's strong intraday movement before repeated volatility halts shows how much of the move is speculative positioning rather than ******* urance. Short interest of 12.74% indicates that a significant number of investors are still betting against the stock even before the report of the takeover emerged. Such skepticism reflects uncertainty that a deal would close at these levels or that AI-disruption worries will be properly addressed even under new ownership.
#NASDAQ #even
6 days ago
Updated Aug 13, 2026, 5:12 pm EDT / Original Aug 13, 2026, 3:27 pm EDT
Workday
WDAY
-3.76%
stock jumped on Thursday after a published report that private-equity firm Silver Lake is in talks to acquire the enterprise software company.
WDAY
-3.76%
Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
#original #jones #rights
Workday
WDAY
-3.76%
stock jumped on Thursday after a published report that private-equity firm Silver Lake is in talks to acquire the enterprise software company.
WDAY
-3.76%
Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
#original #jones #rights
9 days ago
Brown Advisory, an investment management company, released its "Brown Advisory Global Leaders Strategy" for the second quarter of 2026 investor letter. A copy of the letter can be downloaded here. Brown Advisory's Global Leaders Strategy delivered a net return of 4.6% in the second quarter of 2026, underperforming its benchmark, the MSCI ACWI Net Index, which returned 14.9%. The relative weakness was driven mainly by underexposure to semiconductors and technology hardware, while software, cloud services, and financial holdings also weighed on performance. The strategy benefited from holdings in areas tied to AI infrastructure, with semiconductor exposure and AI-related investments gaining from strong demand. Looking ahead, Brown Advisory sees an attractive environment for active stock-picking, with its ready-to-buy list at its highest level since the COVID-19 period and an estimated 12%-13% average five-year base-case IRR, while maintaining a focus on quality, valuation discipline, and long-term cash-flow generation. In addition, please check the Fund's top five holdings to know its best picks in 2026.
In its second-quarter 2026 investor letter, Brown Advisory Global Leaders Strategy Fund highlighted stocks like Workday, Inc. (NASDAQ:WDAY). Workday, Inc. (NASDAQ:WDAY) provides cloud-based enterprise software for human resources, finance, and workforce management. The one-month return of Workday, Inc. (NASDAQ:WDAY) was 24.00% while its shares traded between $110.36 and $249.85 over the last 52 weeks. On August 7, 2026, Workday, Inc. (NASDAQ:WDAY) stock closed at approximately $170.24 per share, with a market capitalization of about $44.37 billion.
Brown Advisory Global Leaders Strategy Fund stated the following regarding Workday, Inc. (NASDAQ:WDAY) in its Q2 2026 investor letter:
We exited our position in Workday, Inc. (NASDAQ:WDAY) during May after a relatively brief holding period of approximately eight months. Several fundamental factors have changed since our initial investment in September of last year, prompting us to revise both our growth and margin estimates for Workday. These revisions have led us to conclude that we can no longer achieve the IRR targets embedded in our base case. Most crucially—and the ultimate trigger for a thesis break in this case—were the recent changes in the management team. When the CEO stepped down and co-founder Aneel Bhusri was re-appointed, we expected, and already see, a change in capital allocation discipline at Workday, as evidenced by the immediate moderation of the company's margin targets. This, paired with the expected reduced discipline around stock-based compensation, materially impacted key inputs into our investment thesis. Our view on the inherent customer acquisition cost advantages that incumbents possess remains unchanged, as does our belief that "systems of record" in software are particularly resistant to disruption by AI. We did, however, adjust our estimates to reflect the expected need
In its second-quarter 2026 investor letter, Brown Advisory Global Leaders Strategy Fund highlighted stocks like Workday, Inc. (NASDAQ:WDAY). Workday, Inc. (NASDAQ:WDAY) provides cloud-based enterprise software for human resources, finance, and workforce management. The one-month return of Workday, Inc. (NASDAQ:WDAY) was 24.00% while its shares traded between $110.36 and $249.85 over the last 52 weeks. On August 7, 2026, Workday, Inc. (NASDAQ:WDAY) stock closed at approximately $170.24 per share, with a market capitalization of about $44.37 billion.
Brown Advisory Global Leaders Strategy Fund stated the following regarding Workday, Inc. (NASDAQ:WDAY) in its Q2 2026 investor letter:
We exited our position in Workday, Inc. (NASDAQ:WDAY) during May after a relatively brief holding period of approximately eight months. Several fundamental factors have changed since our initial investment in September of last year, prompting us to revise both our growth and margin estimates for Workday. These revisions have led us to conclude that we can no longer achieve the IRR targets embedded in our base case. Most crucially—and the ultimate trigger for a thesis break in this case—were the recent changes in the management team. When the CEO stepped down and co-founder Aneel Bhusri was re-appointed, we expected, and already see, a change in capital allocation discipline at Workday, as evidenced by the immediate moderation of the company's margin targets. This, paired with the expected reduced discipline around stock-based compensation, materially impacted key inputs into our investment thesis. Our view on the inherent customer acquisition cost advantages that incumbents possess remains unchanged, as does our belief that "systems of record" in software are particularly resistant to disruption by AI. We did, however, adjust our estimates to reflect the expected need
9 days ago
During Mad Money's episode aired on August 3, host Jim Cramer spotlighted Workday, Inc. (NASDAQ:WDAY) after the enterprise software firm surged 31% in July, placing it among the top four gainers in the S&P 500 for the month. Cramer highlighted how Workday began reclaiming ground after extended selling pressure tied to artificial intelligence concerns. He stated:
Fourth best performer in July was Workday, up 31%. Now, this is an enterprise software stock that's also been hammered by the AI displacement trade, and it's still down nearly 50% from its peak in early 2024. Now, we know ServiceNow reported and roared when we saw those new numbers. It was just a couple of weeks ago. Workday could do the same thing if its numbers impress us later this month.
As Cramer detailed, July's impressive 31% gains represent an initial step toward recovery for a stock that remains down over 40% from its early 2024 highs. Wall Street's fear that generative AI technologies would reduce demand for traditional software platforms severely weighed on Workday, Inc.'s (NASDAQ:WDAY) valuation over the past quarters. However, recent quarterly results across the broader cloud software sector suggest enterprise software platforms may be positioning themselves as major distribution channels for corporate AI applications rather than victims of replacement.
While Workday, Inc. (NASDAQ:WDAY) and ServiceNow, Inc. (NYSE:NOW) both serve Fortune 500 software requirements, their underlying platform architectures target distinct enterprise operations. Workday operates as the central repository for core human capital management, payroll, and financial planning operations. Its core platform handles sensitive employee records, executive organizational charts, and corporate ledgers, creating exceptionally deep customer retention and high switching costs across enterprise clients.
On the other hand, ServiceNow, Inc. (NYSE:NOW) focuses primarily on IT service management, digital workflow orchestration, and customer service automation. While ServiceNow automates cross-departmental tasks across enterprise IT infrastructure, Workday, Inc. (NASDAQ:WDAY) controls the foundational system of record for workforce and financial data. Rather than competing head-to-head, both platforms serve significant, non-overlapping functions within enterprise software systems. Workday's launch of specialized AI tools and agent integration frameworks within its HR and finance platform aims to capture similar enterprise AI spending momentum as ServiceNow.
#workday
Fourth best performer in July was Workday, up 31%. Now, this is an enterprise software stock that's also been hammered by the AI displacement trade, and it's still down nearly 50% from its peak in early 2024. Now, we know ServiceNow reported and roared when we saw those new numbers. It was just a couple of weeks ago. Workday could do the same thing if its numbers impress us later this month.
As Cramer detailed, July's impressive 31% gains represent an initial step toward recovery for a stock that remains down over 40% from its early 2024 highs. Wall Street's fear that generative AI technologies would reduce demand for traditional software platforms severely weighed on Workday, Inc.'s (NASDAQ:WDAY) valuation over the past quarters. However, recent quarterly results across the broader cloud software sector suggest enterprise software platforms may be positioning themselves as major distribution channels for corporate AI applications rather than victims of replacement.
While Workday, Inc. (NASDAQ:WDAY) and ServiceNow, Inc. (NYSE:NOW) both serve Fortune 500 software requirements, their underlying platform architectures target distinct enterprise operations. Workday operates as the central repository for core human capital management, payroll, and financial planning operations. Its core platform handles sensitive employee records, executive organizational charts, and corporate ledgers, creating exceptionally deep customer retention and high switching costs across enterprise clients.
On the other hand, ServiceNow, Inc. (NYSE:NOW) focuses primarily on IT service management, digital workflow orchestration, and customer service automation. While ServiceNow automates cross-departmental tasks across enterprise IT infrastructure, Workday, Inc. (NASDAQ:WDAY) controls the foundational system of record for workforce and financial data. Rather than competing head-to-head, both platforms serve significant, non-overlapping functions within enterprise software systems. Workday's launch of specialized AI tools and agent integration frameworks within its HR and finance platform aims to capture similar enterprise AI spending momentum as ServiceNow.
#workday
2 months ago
Workday Inc. (NASDAQ:WDAY) is one of the 7 Worst Cloud Stocks To Buy According to Short Sellers. On June 2, Workday Inc. (NASDAQ:WDAY) announced a new integration between its data cloud and Amazon Web Services. This integration will allow developers to use Workday's HR and financial data with Amazon Web Services. Moreover, this will make it easier for users to access data directly without having to copy, move, or build complex data connections. As part of this partnership, different Workday tools, such as Workday Data Lake and Workday Data Connect, will soon be available for AWS customers in early access. Gabe Monroy, chief technology officer at Workday, remarked,
"By integrating Workday Data Cloud with AWS, customers get faster, safer AI built on data they already trust, and developers get to spend their time shipping products instead of on plumbing and permission rewrites."
Earlier on May 27, Bank of America Securities (BofA) resumed coverage of Workday Inc. (NASDAQ:WDAY) with a Neutral rating and also ****** igned a price target of $140. The stock had been trading sideways since March, and BofA's coverage provided a boost that pushed the stock price higher. However, the stock has now come back to the same price level, meaning BofA's price target hardly offers any upside for investors.
Workday Inc. (NASDAQ:WDAY) is a provider of cloud-based enterprise software focused on human capital management, financial management, and planning solutions. Its platform enables organizations to manage payroll, workforce planning, accounting, and ****** ytics.
While we acknowledge the potential of WDAY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
"By integrating Workday Data Cloud with AWS, customers get faster, safer AI built on data they already trust, and developers get to spend their time shipping products instead of on plumbing and permission rewrites."
Earlier on May 27, Bank of America Securities (BofA) resumed coverage of Workday Inc. (NASDAQ:WDAY) with a Neutral rating and also ****** igned a price target of $140. The stock had been trading sideways since March, and BofA's coverage provided a boost that pushed the stock price higher. However, the stock has now come back to the same price level, meaning BofA's price target hardly offers any upside for investors.
Workday Inc. (NASDAQ:WDAY) is a provider of cloud-based enterprise software focused on human capital management, financial management, and planning solutions. Its platform enables organizations to manage payroll, workforce planning, accounting, and ****** ytics.
While we acknowledge the potential of WDAY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
3 months ago
The Prem
Harlequins (12) 38
Tries: Dombrandt 2, Benson, Cleaves, Anderson, Lawday Cons: Smith 4
Northampton (12) 31
Tries: Weimann 2, Van der Mescht, Kemeny, Thame Cons: Belleau 3
Harlequins (12) 38
Tries: Dombrandt 2, Benson, Cleaves, Anderson, Lawday Cons: Smith 4
Northampton (12) 31
Tries: Weimann 2, Van der Mescht, Kemeny, Thame Cons: Belleau 3
