Insider Selling: Workday, Inc. (NASDAQ:WDAY) CEO Sells 6,250 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the transaction, the chief executive officer now owns 13,972 shares in the company, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Workday Price Performance

NASDAQ WDAY traded down $4.46 during trading hours on Tuesday, hitting $249.68. The company had a trading volume of 2,222,449 shares, compared to its average volume of 1,901,767. The firm has a 50 day simple moving average of $261.38 and a 200 day simple moving average of $245.16. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The firm has a market capitalization of $66.41 billion, a price-to-earnings ratio of 41.41, a PEG ratio of 5.04 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Workday’s revenue was up 15.8% compared to the same quarter last year. During the same period last year, the business earned $0.47 earnings per share. Equities research analysts expect that Workday, Inc. will post 2.58 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on WDAY shares. Citigroup dropped their price target on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Needham & Company LLC reissued a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Monday, November 25th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Friday, September 13th. Guggenheim raised Workday from a “sell” rating to a “neutral” rating in a research report on Monday. Finally, Barclays cut their price objective on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $291.36.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in Workday by 42.8% in the second quarter. Principal Financial Group Inc. now owns 12,275 shares of the software maker’s stock worth $2,744,000 after acquiring an additional 3,679 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Workday by 14.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 22,468 shares of the software maker’s stock worth $5,023,000 after purchasing an additional 2,888 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Workday by 41,800.0% during the 2nd quarter. Larson Financial Group LLC now owns 419 shares of the software maker’s stock valued at $94,000 after purchasing an additional 418 shares during the last quarter. Lake Street Advisors Group LLC raised its holdings in shares of Workday by 28.9% during the 2nd quarter. Lake Street Advisors Group LLC now owns 1,013 shares of the software maker’s stock valued at $226,000 after buying an additional 227 shares in the last quarter. Finally, Asset Dedication LLC bought a new stake in Workday in the 2nd quarter worth approximately $36,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

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.