Insider Selling: Workday (NASDAQ:WDAY) CAO Sells $130,530.42 in Stock

Workday, Inc. (NASDAQ:WDAY) CAO Mark Garfield sold 918 shares of Workday stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $142.19, for a total value of $130,530.42. Following the sale, the chief accounting officer directly owned 73,718 shares in the company, valued at $10,481,962.42. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Workday Trading Down 3.5%

Shares of NASDAQ:WDAY traded down $5.06 during midday trading on Tuesday, hitting $139.81. 4,644,187 shares of the stock were exchanged, compared to its average volume of 4,591,004. The business’s 50-day moving average price is $130.44 and its 200 day moving average price is $145.60. The stock has a market capitalization of $34.53 billion, a price-to-earnings ratio of 43.69, a P/E/G ratio of 1.55 and a beta of 1.11. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $249.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the company earned $2.23 EPS. The firm’s revenue was up 13.5% compared to the same quarter last year. Analysts predict that Workday, Inc. will post 5.34 earnings per share for the current year.

Key Stories Impacting Workday

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Workday has continued to attract bullish analyst attention, with some commentary arguing the stock looks undervalued relative to enterprise AI/software peers and supported by rising earnings estimates. Workday vs. Arista: Which Enterprise AI Stock Has More Upside Now?
• Positive Sentiment: Earlier in the week, enterprise software names, including Workday, bounced as investors rotated into oversold software stocks after weakness in semiconductors. Salesforce, Workday, and PagerDuty Stocks Trade Up, What You Need To Know
• Neutral Sentiment: Workday was highlighted in market commentary as a strong growth stock, but this was more of a style-score/valuation discussion than a fresh catalyst for shares. Here’s Why Workday (WDAY) is a Strong Growth Stock
• Negative Sentiment: Large-shareholder selling by co-founder David Duffield added caution, even though the sale was made under a pre-arranged Rule 10b5-1 plan. Workday (NASDAQ:WDAY) Major Shareholder Sells 107,500 Shares of Stock
• Negative Sentiment: Broad software-sector weakness tied to IBM’s results and comments about budget shifts toward hardware has weighed on Workday alongside peers like HubSpot, Asana, and The Trade Desk. Software Stocks Sink as IBM Miss Delivers ‘Devastating Blow’

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rakuten Securities Inc. acquired a new stake in Workday in the second quarter worth $25,000. Measured Wealth Private Client Group LLC bought a new position in shares of Workday during the 3rd quarter worth about $26,000. JPL Wealth Management LLC acquired a new stake in shares of Workday in the 3rd quarter valued at about $30,000. DT Investment Partners LLC acquired a new stake in shares of Workday in the 4th quarter valued at about $27,000. Finally, LRI Investments LLC bought a new position in Workday in the fourth quarter worth approximately $29,000. 89.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Summit Redstone set a $275.00 target price on Workday in a research report on Wednesday, May 27th. William Blair upgraded Workday to a “strong-buy” rating in a research report on Friday, May 22nd. Bank of America started coverage on Workday in a research note on Wednesday, May 27th. They issued a “neutral” rating and a $140.00 price target for the company. Monness Crespi & Hardt upgraded Workday from a “neutral” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Thursday, June 25th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $184.00.

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.