Workday (NASDAQ:WDAY) Insider Gerrit Kazmaier Sells 2,728 Shares

Workday, Inc. (NASDAQ:WDAY) insider Gerrit Kazmaier sold 2,728 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total value of $391,795.36. Following the completion of the sale, the insider owned 266,388 shares of the company’s stock, valued at $38,258,644.56. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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

Shares of WDAY stock traded up $5.66 during mid-day trading on Tuesday, hitting $143.65. 5,902,458 shares of the stock traded hands, compared to its average volume of 5,196,066. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $249.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. The company’s 50-day simple moving average is $127.76 and its 200-day simple moving average is $149.38. The firm has a market cap of $35.48 billion, a price-to-earnings ratio of 44.89, a price-to-earnings-growth ratio of 1.45 and a beta of 1.11.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating 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 business had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the firm posted $2.23 earnings per share. The company’s revenue was up 13.5% on a year-over-year basis. As a group, equities research analysts expect that Workday, Inc. will post 5.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WDAY. Monness Crespi & Hardt upgraded shares of Workday from a “neutral” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Thursday, June 25th. Summit Redstone set a $275.00 target price on shares of Workday in a report on Wednesday, May 27th. Needham & Company LLC cut their target price on shares of Workday from $300.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Loop Capital set a $210.00 target price on shares of Workday in a report on Thursday, March 12th. Finally, Bank of America began coverage on shares of Workday in a research report on Wednesday, May 27th. They issued a “neutral” rating and a $140.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and a consensus price target of $184.00.

Institutional Trading of Workday

A number of hedge funds have recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Workday by 230.2% during the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after acquiring an additional 2,792 shares during the period. Empowered Funds LLC boosted its stake in Workday by 12.1% in the 1st quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock worth $2,602,000 after purchasing an additional 1,206 shares during the period. Geneos Wealth Management Inc. grew its position in Workday by 211.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after purchasing an additional 127 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Workday during the 2nd quarter valued at $281,000. Finally, NewEdge Advisors LLC raised its stake in Workday by 32.0% during the 2nd quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker’s stock valued at $1,583,000 after purchasing an additional 1,600 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Company Profile

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.