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

Workday, Inc. (NASDAQ:WDAY - Get Free Report) CEO Carl M. Eschenbach sold 6,250 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the completion of the sale, the chief executive officer directly owned 1,472 shares in the company, valued at approximately $352,440.96. This trade represents a 80.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Workday Stock Up 1.8%

WDAY stock traded up $4.29 during trading on Friday, hitting $242.03. 1,301,745 shares of the stock traded hands, compared to its average volume of 2,462,966. The stock has a market cap of $64.62 billion, a price-to-earnings ratio of 133.72, a price-to-earnings-growth ratio of 3.59 and a beta of 1.21. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The firm's 50 day moving average is $249.22 and its two-hundred day moving average is $249.92.

Workday (NASDAQ:WDAY - Get Free Report) last issued its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.22. Workday had a net margin of 5.60% and a return on equity of 8.00%. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the firm posted $1.74 earnings per share. The business's revenue was up 12.6% on a year-over-year basis. On average, sell-side analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Piper Sandler reiterated a "neutral" rating and issued a $255.00 price target (up previously from $230.00) on shares of Workday in a report on Friday, May 23rd. Oppenheimer dropped their target price on shares of Workday from $320.00 to $300.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. JMP Securities reiterated a "market outperform" rating and set a $315.00 price target on shares of Workday in a research report on Friday, May 23rd. Morgan Stanley set a $255.00 price target on shares of Workday and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. reduced their target price on Workday from $310.00 to $295.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Nine investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $297.68.

Hedge Funds Weigh In On Workday

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC raised its stake in shares of Workday by 76.1% in the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock worth $28,000 after purchasing an additional 54 shares during the last quarter. Dagco Inc. bought a new stake in Workday in the 1st quarter worth about $31,000. TCTC Holdings LLC bought a new stake in Workday in the 4th quarter worth about $35,000. Farmers & Merchants Investments Inc. purchased a new position in Workday in the 1st quarter worth about $32,000. Finally, Rakuten Securities Inc. lifted its stake in Workday by 78.6% during the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after acquiring an additional 66 shares during the period. 89.81% of the stock is 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.