Insider Selling: Workday (NASDAQ:WDAY) CEO Sells $656,250.00 in Stock

Workday, Inc. (NASDAQ:WDAY) CEO Carl Eschenbach sold 3,125 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $210.00, for a total value of $656,250.00. Following the transaction, the chief executive officer owned 17,097 shares of the company’s stock, valued at approximately $3,590,370. The trade was a 15.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Workday Price Performance

Shares of NASDAQ:WDAY traded up $0.81 during mid-day trading on Wednesday, reaching $211.11. The stock had a trading volume of 1,599,575 shares, compared to its average volume of 3,474,164. The business’s 50 day moving average price is $221.37 and its 200 day moving average price is $228.92. Workday, Inc. has a 1 year low of $202.22 and a 1 year high of $283.68. The company has a market cap of $55.52 billion, a P/E ratio of 88.70, a price-to-earnings-growth ratio of 2.36 and a beta of 1.14. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.15. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Workday had a return on equity of 10.50% and a net margin of 6.95%.The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 EPS. Research analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WDAY has been the subject of a number of recent research reports. Royal Bank Of Canada dropped their price objective on shares of Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday. UBS Group set a $260.00 price target on Workday in a research report on Wednesday, November 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Workday in a research note on Wednesday, October 8th. Barclays lowered their price objective on Workday from $288.00 to $280.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Finally, Evercore ISI boosted their target price on Workday from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $281.59.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WDAY. Rakuten Securities Inc. bought a new stake in shares of Workday during the 2nd quarter worth approximately $25,000. Measured Wealth Private Client Group LLC purchased a new position in Workday during the 3rd quarter worth $26,000. JPL Wealth Management LLC bought a new stake in shares of Workday in the third quarter valued at about $30,000. Berbice Capital Management LLC raised its stake in Workday by 136.4% in the second quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock worth $31,000 after buying an additional 75 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in shares of Workday by 2,216.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock valued at $33,000 after acquiring an additional 133 shares during the period. Institutional investors own 89.81% of the company’s stock.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.