Insider Selling: Workday, Inc. (NASDAQ:WDAY) CAO Sells $112,595.35 in Stock

Workday, Inc. (NASDAQ:WDAY) CAO Mark S. Garfield sold 497 shares of the business’s stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the sale, the chief accounting officer now owns 34,385 shares of the company’s stock, valued at $7,789,921.75. This trade represents a 1.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Workday Stock Down 2.4 %

Shares of NASDAQ WDAY opened at $227.71 on Thursday. The company has a market cap of $60.57 billion, a P/E ratio of 37.76, a PEG ratio of 3.55 and a beta of 1.32. The firm has a 50-day simple moving average of $245.82 and a two-hundred day simple moving average of $252.48. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and lifted their price objective for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Morgan Stanley dropped their price target on shares of Workday from $275.00 to $250.00 and set an “equal weight” rating for the company in a research report on Wednesday. JMP Securities restated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research report on Thursday, February 6th. The Goldman Sachs Group upped their target price on shares of Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Finally, Guggenheim reissued a “neutral” rating on shares of Workday in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $296.25.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WDAY. Roxbury Financial LLC purchased a new stake in Workday in the 4th quarter valued at about $25,000. Crews Bank & Trust purchased a new position in shares of Workday during the fourth quarter worth approximately $26,000. Avion Wealth raised its stake in shares of Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares in the last quarter. Farmers & Merchants Investments Inc. bought a new position in Workday in the first quarter worth approximately $32,000. Finally, TCTC Holdings LLC bought a new position in Workday in the fourth quarter worth approximately $35,000. 89.81% of the stock is currently owned by institutional investors.

About Workday

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.