Insider Selling: Workday, Inc. (NASDAQ:WDAY) CEO Sells 6,250 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now directly owns 13,972 shares in the company, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Workday Stock Performance

NASDAQ WDAY opened at $254.69 on Thursday. The company’s 50 day simple moving average is $261.93 and its two-hundred day simple moving average is $245.44. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The stock has a market capitalization of $67.75 billion, a PE ratio of 42.24, a P/E/G ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the business posted $0.47 earnings per share. The firm’s revenue was up 15.8% compared to the same quarter last year. Analysts predict that Workday, Inc. will post 2.58 earnings per share for the current fiscal year.

Institutional Trading of Workday

A number of large investors have recently modified their holdings of WDAY. Janus Henderson Group PLC increased its position in shares of Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after purchasing an additional 480,459 shares during the last quarter. State Street Corp raised its position in shares of Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after buying an additional 67,380 shares in the last quarter. Geode Capital Management LLC grew its position in Workday by 2.7% in the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after acquiring an additional 76,618 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Workday by 0.6% in the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock valued at $566,094,000 after acquiring an additional 14,159 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Workday by 4.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock valued at $482,133,000 after purchasing an additional 75,747 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Piper Sandler restated a “neutral” rating and issued a $270.00 target price (down previously from $285.00) on shares of Workday in a report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $265.00 to $300.00 in a report on Wednesday. Loop Capital reduced their target price on shares of Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Wells Fargo & Company raised their price target on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Workday in a research report on Monday, November 25th. Seven investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $292.25.

About Workday

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.