Workday (NASDAQ:WDAY) CFO Sells $1,123,380.00 in Stock

Key Points

• Workday CFO Zane Rowe sold 6,000 shares for approximately $1.12 million at an average price of $187.23. The transaction occurred under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards, leaving him with 269,642 shares.
• Workday shares fell 1.2% to $184.26, while the company reported quarterly EPS of $2.75 and revenue of $2.65 billion, with revenue up 12.8% year over year.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $206.34; institutional investors own approximately 89.81% of the company.

Workday, Inc. (NASDAQ:WDAY - Get Free Report) CFO Zane Rowe sold 6,000 shares of the business's stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $187.23, for a total transaction of $1,123,380.00. Following the transaction, the chief financial officer directly owned 269,642 shares in the company, valued at approximately $50,485,071.66. The trade was a 2.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 Trading Down 1.2%

Shares of NASDAQ:WDAY traded down $2.29 on Wednesday, hitting $184.26. The company had a trading volume of 1,519,182 shares, compared to its average volume of 4,756,018. The firm's 50-day simple moving average is $188.46 and its two-hundred day simple moving average is $150.56. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $247.40. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $44.41 billion, a price-to-earnings ratio of 37.38, a P/E/G ratio of 1.89 and a beta of 1.07.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.14. Workday had a net margin of 12.32% and a return on equity of 20.95%. The company had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.64 billion. During the same quarter in the previous year, the company earned $2.21 earnings per share. Workday's quarterly revenue was up 12.8% on a year-over-year basis. Equities analysts anticipate that Workday, Inc. will post 5.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. BTIG Research lowered Workday from a "buy" rating to a "neutral" rating in a research report on Monday, August 17th. BMO Capital Markets upped their price target on Workday from $182.00 to $230.00 and gave the stock an "outperform" rating in a research note on Friday, August 28th. Robert W. Baird increased their price objective on Workday from $190.00 to $215.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. The Goldman Sachs Group raised their price objective on Workday from $151.00 to $164.00 and gave the company a "neutral" rating in a research report on Monday, August 31st. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Workday in a report on Wednesday, September 30th. Twenty equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Workday presently has a consensus rating of "Hold" and an average price target of $206.34.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WDAY. Western Wealth Management LLC bought a new stake in Workday in the first quarter worth $39,000. Reflection Asset Management bought a new position in shares of Workday during the fourth quarter valued at $66,000. Manning & Napier Advisors LLC bought a new position in shares of Workday during the second quarter valued at $42,000. Elevation Wealth Partners LLC raised its position in shares of Workday by 1,097.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 395 shares of the software maker's stock worth $48,000 after purchasing an additional 362 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its position in shares of Workday by 26.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 591 shares of the software maker's stock worth $72,000 after purchasing an additional 123 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

About Workday

Workday, Inc develops cloud-based enterprise software for managing an organization's people, finances and operations. Its platform is primarily used by businesses, government agencies and educational institutions to support human resources, finance, planning, analytics and related administrative processes.

The company's offerings include Workday Human Capital Management, Financial Management, Adaptive Planning, Spend Management, payroll, recruiting, talent management, learning and workforce analytics.

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