Workday, Inc. (NASDAQ:WDAY - Get Free Report) CEO Carl M. Eschenbach sold 3,125 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total transaction of $733,156.25. Following the completion of the transaction, the chief executive officer now owns 10,847 shares in the company, valued at approximately $2,544,814.67. This trade represents a 22.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Workday Stock Up 2.5 %
Shares of Workday stock traded up $5.34 on Wednesday, reaching $215.81. The company's stock had a trading volume of 1,045,906 shares, compared to its average volume of 2,578,154. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The firm's fifty day simple moving average is $251.02 and its two-hundred day simple moving average is $253.33. 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 company has a market capitalization of $57.41 billion, a price-to-earnings ratio of 35.58, a P/E/G ratio of 3.55 and a beta of 1.32.
Workday (NASDAQ:WDAY - Get Free Report) last issued its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). The business had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Equities analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.
Institutional Investors Weigh In On Workday
Several institutional investors and hedge funds have recently added to or reduced their stakes in WDAY. Vanguard Group Inc. boosted its stake in shares of Workday by 28.9% in 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 last quarter. State Street Corp boosted its position in Workday by 1.4% in the third quarter. State Street Corp now owns 4,842,729 shares of the software maker's stock worth $1,183,611,000 after purchasing an additional 67,380 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock valued at $1,193,105,000 after purchasing an additional 1,772,223 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of 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 last quarter. Finally, Brown Advisory Inc. lifted its stake in shares of Workday by 1.5% in the 4th quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker's stock worth $911,027,000 after purchasing an additional 52,104 shares during the period. Hedge funds and other institutional investors own 89.81% of the company's stock.
Analysts Set New Price Targets
WDAY has been the subject of several research analyst reports. Daiwa America raised Workday to a "strong-buy" rating in a research note on Tuesday, March 4th. Royal Bank of Canada raised their price objective on Workday from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. JMP Securities restated a "market outperform" rating and set a $315.00 target price on shares of Workday in a report on Thursday, February 6th. Jefferies Financial Group lowered their price target on shares of Workday from $350.00 to $325.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, Morgan Stanley downgraded shares of Workday from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $330.00 to $275.00 in a research note on Wednesday, February 19th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $300.18.
Read Our Latest Report on WDAY
About Workday
(
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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.
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