Insider Selling: Workday (NASDAQ:WDAY) CFO Sells 6,000 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $208.75, for a total transaction of $1,252,500.00. Following the sale, the chief financial officer directly owned 159,158 shares of the company’s stock, valued at $33,224,232.50. This represents a 3.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Workday Price Performance

Workday stock traded up $0.81 during midday trading on Wednesday, reaching $211.11. The company had a trading volume of 1,599,575 shares, compared to its average volume of 3,474,164. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83. Workday, Inc. has a 12-month low of $202.22 and a 12-month high of $283.68. The company has a market capitalization of $55.52 billion, a P/E ratio of 88.70, a P/E/G ratio of 2.36 and a beta of 1.14. The firm’s fifty day simple moving average is $221.37 and its 200-day simple moving average is $228.92.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, topping the consensus estimate of $2.17 by $0.15. Workday had a return on equity of 10.50% and a net margin of 6.95%.The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period in the previous year, the business earned $1.89 EPS. Workday’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Institutional Investors Weigh In On Workday

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC acquired a new position in shares of Workday in the 3rd quarter valued at $556,252,000. Hotchkis & Wiley Capital Management LLC raised its holdings in Workday by 47.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock valued at $1,406,463,000 after buying an additional 1,882,391 shares during the period. Norges Bank purchased a new stake in Workday in the 2nd quarter valued at about $442,702,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Workday by 41.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,761,599 shares of the software maker’s stock valued at $905,530,000 after buying an additional 1,103,421 shares during the last quarter. Finally, Generation Investment Management LLP boosted its stake in Workday by 50.4% during the third quarter. Generation Investment Management LLP now owns 3,087,395 shares of the software maker’s stock worth $743,229,000 after buying an additional 1,034,589 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Citizens Jmp restated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a report on Wednesday, November 26th. Piper Sandler upgraded shares of Workday from an “underweight” rating to a “neutral” rating and increased their target price for the company from $220.00 to $235.00 in a research report on Wednesday, September 17th. Barclays lowered their price target on shares of Workday from $288.00 to $280.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Oppenheimer reaffirmed an “outperform” rating on shares of Workday in a research note on Wednesday, November 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Workday in a research note on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $281.59.

Workday Company Profile

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.