Workday (NASDAQ:WDAY) Insider Sells $511,087.12 in Stock

Workday, Inc. (NASDAQ:WDAY) insider Gerrit Kazmaier sold 2,729 shares of the stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $187.28, for a total transaction of $511,087.12. Following the completion of the transaction, the insider directly owned 251,314 shares in the company, valued at approximately $47,066,085.92. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Workday Stock Performance

Shares of NASDAQ:WDAY traded down $2.29 during trading on Wednesday, reaching $184.26. 1,519,182 shares of the stock were exchanged, compared to its average volume of 4,756,018. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $247.40. The firm has a market cap of $44.41 billion, a PE ratio of 37.38, a PEG ratio of 1.89 and a beta of 1.07. The stock has a 50-day moving average price of $188.46 and a 200-day moving average price of $150.56. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.14. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%.The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.21 earnings per share. Research analysts expect that Workday, Inc. will post 5.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WDAY has been the subject of a number of recent research reports. Monness Crespi & Hardt boosted their target price on shares of Workday from $202.00 to $218.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Oppenheimer lifted their price target on shares of Workday from $165.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, August 24th. Capital One Financial set a $219.00 price objective on Workday and gave the company an “equal weight” rating in a report on Friday, August 28th. The Goldman Sachs Group upped their target price on Workday from $151.00 to $164.00 and gave the company a “neutral” rating in a research report on Monday, August 31st. Finally, Piper Sandler raised their price target on Workday from $145.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, August 28th. Twenty research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Workday has a consensus rating of “Hold” and a consensus target price of $206.34.

Institutional Trading of Workday

Several institutional investors and hedge funds have recently modified their holdings of the business. Western Wealth Management LLC bought a new position in Workday in the first quarter valued at about $39,000. Reflection Asset Management acquired a new stake in shares of Workday in the 4th quarter valued at approximately $66,000. Manning & Napier Advisors LLC acquired a new stake in shares of Workday in the 2nd quarter valued at approximately $42,000. Elevation Wealth Partners LLC grew its holdings in shares of Workday by 1,097.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 395 shares of the software maker’s stock valued at $48,000 after purchasing an additional 362 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Workday by 26.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 591 shares of the software maker’s stock valued at $72,000 after purchasing an additional 123 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

About Workday

Workday, Inc develops cloud-based enterprise software for managing an organization’s people, finances and operations. Its platform is primarily used by businesses, government agencies and educational institutions to support human resources, finance, planning, analytics and related administrative processes.

The company’s offerings include Workday Human Capital Management, Financial Management, Adaptive Planning, Spend Management, payroll, recruiting, talent management, learning and workforce analytics.