Workday (NASDAQ:WDAY) Insider Sells 2,729 Shares of Company Stock

Key Points

• Workday insider Gerrit Kazmaier sold 2,729 shares for approximately $511,087 under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards. He retained 251,314 shares afterward.
• Workday shares fell 1.2% to $184.26, while the company reported quarterly revenue of $2.65 billion and adjusted earnings of $2.75 per share, exceeding analyst expectations.
• Analysts have a consensus “Hold” rating and an average price target of $206.34; institutional investors and hedge funds own approximately 89.81% of the company’s shares.

Workday, Inc. (NASDAQ:WDAY - Get Free Report) insider Gerrit Kazmaier sold 2,729 shares of Workday stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $187.28, for a total value of $511,087.12. Following the transaction, the insider owned 251,314 shares in the company, valued at approximately $47,066,085.92. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 Trading Down 1.2%

Shares of Workday stock traded down $2.29 during trading hours on Wednesday, hitting $184.26. The company's stock had a trading volume of 1,519,182 shares, compared to its average volume of 4,756,018. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $247.40. The stock has a 50 day moving average of $188.46 and a 200 day moving average of $150.56. The company has a market capitalization of $44.41 billion, a PE ratio of 37.38, a price-to-earnings-growth ratio of 1.89 and a beta of 1.07. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.14. Workday had a return on equity of 20.95% and a net margin of 12.32%.The business 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 business posted $2.21 EPS. Workday's revenue for the quarter was up 12.8% on a year-over-year basis. Analysts predict that Workday, Inc. will post 5.33 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on WDAY shares. Weiss Ratings raised shares of Workday from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, September 18th. The Goldman Sachs Group upped their price target on Workday from $151.00 to $164.00 and gave the stock a "neutral" rating in a research report on Monday, August 31st. Bank of America boosted their price objective on shares of Workday from $140.00 to $205.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 19th. BTIG Research downgraded shares of Workday from a "buy" rating to a "neutral" rating in a research report on Monday, August 17th. Finally, KeyCorp boosted their price target on shares of Workday from $158.00 to $215.00 and gave the stock an "overweight" rating in a research report on Friday, August 28th. Twenty equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $206.34.

Institutional Trading of Workday

A number of hedge funds have recently made changes to their positions in the business. Auto Owners Insurance Co increased its holdings in shares of Workday by 25,412.8% during the 4th quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker's stock worth $2,197,332,000 after acquiring an additional 10,190,516 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Workday by 101.4% during the 4th quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker's stock valued at $1,077,537,000 after purchasing an additional 2,525,821 shares during the last quarter. Brown Advisory Inc. lifted its holdings in Workday by 39.7% during the 4th quarter. Brown Advisory Inc. now owns 1,709,736 shares of the software maker's stock valued at $367,217,000 after purchasing an additional 486,008 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings 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 purchasing an additional 223,493 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings 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 valued at $335,021,000 after purchasing an additional 144,833 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Company Profile

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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