Workday (NASDAQ:WDAY) Shares Up 4.8% – Here’s What Happened

Workday, Inc. (NASDAQ:WDAY)’s share price traded up 4.8% during trading on Tuesday . The stock traded as high as $140.56 and last traded at $140.45. 2,208,777 shares traded hands during trading, a decline of 57% from the average session volume of 5,171,135 shares. The stock had previously closed at $134.01.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on WDAY shares. Macquarie Infrastructure reiterated a “buy” rating on shares of Workday in a research report on Wednesday, November 26th. Raymond James Financial reaffirmed a “market perform” rating on shares of Workday in a report on Monday, February 9th. Citizens Jmp downgraded Workday from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 18th. Wall Street Zen cut Workday from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, TD Cowen lowered Workday from a “buy” rating to a “hold” rating and set a $155.00 price objective on the stock. in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.19.

Workday Stock Performance

The stock has a market cap of $37.48 billion, a price-to-earnings ratio of 55.24, a P/E/G ratio of 1.31 and a beta of 1.17. The company has a current ratio of 1.32, a quick ratio of 1.83 and a debt-to-equity ratio of 0.38. The firm has a fifty day simple moving average of $177.85 and a 200-day simple moving average of $211.17.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.15. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a return on equity of 13.37% and a net margin of 7.26%.The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.92 earnings per share. Analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $208.75, for a total transaction of $1,252,500.00. Following the completion of the sale, the chief financial officer owned 159,158 shares in the company, valued at $33,224,232.50. The trade was a 3.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Enslin sold 22,185 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $210.17, for a total transaction of $4,662,621.45. Following the sale, the insider directly owned 106,330 shares of the company’s stock, valued at approximately $22,347,376.10. This trade represents a 17.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 288,296 shares of company stock worth $61,461,516. 20.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Workday

Institutional investors have recently made changes to their positions in the stock. Reflection Asset Management bought a new stake in Workday in the fourth quarter valued at about $66,000. Anchor Investment Management LLC boosted its holdings in Workday by 7.3% during the fourth quarter. Anchor Investment Management LLC now owns 8,316 shares of the software maker’s stock worth $1,786,000 after buying an additional 563 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Workday by 840.9% during the 4th quarter. Pacer Advisors Inc. now owns 765,049 shares of the software maker’s stock worth $164,317,000 after buying an additional 683,741 shares during the period. Virtu Financial LLC acquired a new position in shares of Workday during the 4th quarter worth about $2,518,000. Finally, Compound Planning Inc. increased its stake in shares of Workday by 32.8% in the 4th quarter. Compound Planning Inc. now owns 2,818 shares of the software maker’s stock valued at $605,000 after acquiring an additional 696 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

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.