Workday, Inc. (NASDAQ:WDAY) CAO Mark S. Garfield Sells 497 Shares

Workday, Inc. (NASDAQ:WDAY - Get Free Report) CAO Mark S. Garfield sold 497 shares of Workday stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the completion of the sale, the chief accounting officer now directly owns 34,385 shares in the company, valued at approximately $7,789,921.75. This represents a 1.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Workday Price Performance

Shares of NASDAQ WDAY traded down $6.69 during midday trading on Friday, reaching $221.02. 1,894,875 shares of the company were exchanged, compared to its average volume of 2,614,756. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The stock has a market cap of $58.79 billion, a P/E ratio of 36.65, a PEG ratio of 3.55 and a beta of 1.32. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock's 50-day moving average price is $244.84 and its 200-day moving average price is $252.32.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. On average, sell-side analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Workday

A number of hedge funds have recently modified their holdings of WDAY. Vanguard Group Inc. lifted its holdings in Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after buying an additional 4,517,272 shares during the period. Geode Capital Management LLC boosted its holdings in Workday by 61.9% in the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock valued at $1,193,105,000 after acquiring an additional 1,772,223 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Workday by 60.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock valued at $960,454,000 after purchasing an additional 1,406,088 shares during the period. Brown Advisory Inc. increased its position in Workday by 1.5% during the 4th quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker's stock valued at $911,027,000 after purchasing an additional 52,104 shares during the period. Finally, FIL Ltd raised its holdings in Workday by 6.5% during the 4th quarter. FIL Ltd now owns 2,963,124 shares of the software maker's stock worth $764,575,000 after purchasing an additional 181,899 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of several analyst reports. BNP Paribas raised shares of Workday to a "strong-buy" rating in a research note on Friday, February 14th. Piper Sandler lifted their price objective on shares of Workday from $270.00 to $290.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Royal Bank of Canada upped their target price on shares of Workday from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. DA Davidson cut their target price on shares of Workday from $270.00 to $230.00 and set a "neutral" rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their price target on Workday from $285.00 to $310.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $296.25.

Workday Company Profile

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.