Workday (NASDAQ:WDAY) Insider Robert Enslin Sells 5,374 Shares of Stock

Key Points

• Workday insider Robert Enslin sold 5,374 shares at an average price of $187, generating approximately $1.0 million. The Rule 10b5-1 transaction was intended to cover tax withholding on vested equity awards, reducing his holdings by 2.32% to 226,233 shares.
• Workday reported stronger-than-expected quarterly results, with earnings per share of $2.75 versus the $2.61 consensus and revenue of $2.65 billion, up 12.8% year over year.
• Shares recently traded near $184, while analysts maintain a consensus “Hold” rating and a $206.34 target price. Institutional investors own approximately 89.81% of the company.

Workday, Inc. (NASDAQ:WDAY - Get Free Report) insider Robert Enslin sold 5,374 shares of the company's stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $187.00, for a total transaction of $1,004,938.00. Following the completion of the transaction, the insider owned 226,233 shares of the company's stock, valued at approximately $42,305,571. This trade represents a 2.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 NASDAQ:WDAY traded down $2.29 during trading on Wednesday, reaching $184.26. 1,519,182 shares of the company's stock traded hands, compared to its average volume of 4,756,018. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $247.40. The company has a 50-day simple moving average of $188.46 and a 200-day simple moving average of $150.56. The firm has a market cap of $44.41 billion, a PE 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 released its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, topping analysts' consensus estimates of $2.61 by $0.14. Workday had a return on equity of 20.95% and a net margin of 12.32%.The company had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.64 billion. During the same quarter in the prior year, the firm posted $2.21 EPS. Workday's quarterly revenue was up 12.8% compared to the same quarter last year. As a group, analysts predict that Workday, Inc. will post 5.33 earnings per share for the current year.

Wall Street Analyst Weigh In

WDAY has been the topic of a number of recent analyst reports. Lake Street Capital set a $205.00 target price on Workday in a research report on Friday, August 14th. Cantor Fitzgerald reissued an "overweight" rating on shares of Workday in a report on Wednesday, September 30th. UBS Group set a $230.00 price objective on shares of Workday in a report on Friday, August 28th. BMO Capital Markets lifted their target price on shares of Workday from $182.00 to $230.00 and gave the company an "outperform" rating in a research report on Friday, August 28th. Finally, Canaccord Genuity Group boosted their target price on shares of Workday from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Tuesday, August 25th. Twenty investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Workday presently has a consensus rating of "Hold" and a consensus target price of $206.34.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WDAY. Auto Owners Insurance Co lifted its holdings in Workday by 25,412.8% in the 4th quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker's stock valued at $2,197,332,000 after purchasing an additional 10,190,516 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Workday by 101.4% during the fourth quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker's stock worth $1,077,537,000 after buying an additional 2,525,821 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Workday by 8.7% in the first quarter. Pictet Asset Management Holding SA now owns 2,803,568 shares of the software maker's stock valued at $364,217,000 after buying an additional 223,493 shares during the last quarter. Brown Advisory Inc. lifted its stake in shares of Workday by 39.7% in the fourth quarter. Brown Advisory Inc. now owns 1,709,736 shares of the software maker's stock worth $367,217,000 after buying an additional 486,008 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Workday by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 1,559,835 shares of the software maker's stock worth $335,021,000 after buying an additional 144,833 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

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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