Workday (NASDAQ:WDAY) CFO Zane Rowe Sells 6,000 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total transaction of $862,200.00. Following the completion of the sale, the chief financial officer directly owned 288,460 shares in the company, valued at $41,451,702. This represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 Price Performance

WDAY stock traded up $5.66 during midday trading on Tuesday, reaching $143.65. The company had a trading volume of 5,902,458 shares, compared to its average volume of 5,196,066. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85. The company has a market capitalization of $35.48 billion, a P/E ratio of 44.89, a P/E/G ratio of 1.45 and a beta of 1.11. The firm has a 50-day moving average price of $127.76 and a 200-day moving average price of $149.38.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the company posted $2.23 earnings per share. The company’s revenue was up 13.5% compared to the same quarter last year. On average, research analysts anticipate that Workday, Inc. will post 5.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Workday

Institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in Workday in the 4th quarter valued at approximately $448,804,000. Harvest Fund Management Co. Ltd increased its holdings in shares of Workday by 40.1% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock worth $11,943,000 after purchasing an additional 15,903 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Workday by 18.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock worth $122,804,000 after purchasing an additional 88,384 shares during the last quarter. Morningstar Investment Management LLC raised its stake in shares of Workday by 127.2% in the fourth quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock worth $5,808,000 after purchasing an additional 15,138 shares during the last quarter. Finally, Aurora Investment Counsel bought a new position in shares of Workday during the fourth quarter valued at $2,357,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on WDAY. Sanford C. Bernstein restated an “outperform” rating and issued a $216.00 target price on shares of Workday in a research note on Friday, May 22nd. Bank of America initiated coverage on Workday in a research note on Wednesday, May 27th. They issued a “neutral” rating and a $140.00 price target on the stock. KeyCorp increased their price objective on Workday from $155.00 to $158.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Wells Fargo & Company raised their price objective on Workday from $180.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Finally, UBS Group boosted their target price on shares of Workday from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $184.00.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.