Workday (NASDAQ:WDAY) Trading Down 3.7% Following Insider Selling

Workday, Inc. (NASDAQ:WDAY) shares fell 3.7% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $138.01 and last traded at $138.4550. 418,855 shares traded hands during trading, a decline of 92% from the average session volume of 5,135,962 shares. The stock had previously closed at $143.76.

Specifically, major shareholder David A. Duffield sold 107,500 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $149.56, for a total value of $16,077,700.00. Following the transaction, the insider owned 105,049 shares of the company’s stock, valued at approximately $15,711,128.44. The trade was a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WDAY. BTIG Research reissued a “buy” rating and issued a $175.00 price objective on shares of Workday in a research note on Monday, May 18th. Barclays upgraded Workday from an “overweight” rating to a “buy” rating in a research report on Friday, May 22nd. HC Wainwright set a $140.00 price objective on shares of Workday in a research note on Wednesday, May 27th. UBS Group boosted their price objective on shares of Workday from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, May 22nd. Finally, Cantor Fitzgerald decreased their price objective on shares of Workday from $200.00 to $160.00 and set an “overweight” rating for the company in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.03.

Workday Trading Down 4.1%

The stock has a market cap of $34.07 billion, a PE ratio of 43.13, a price-to-earnings-growth ratio of 1.52 and a beta of 1.09. 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 moving average price is $127.56 and its 200 day moving average price is $162.04.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. The company had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm’s revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.23 earnings per share. On average, sell-side analysts forecast that Workday, Inc. will post 5.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Workday

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its position in Workday by 97.2% during the first quarter. NewEdge Advisors LLC now owns 10,857 shares of the software maker’s stock worth $1,411,000 after buying an additional 5,351 shares during the period. Ramiah Investment Group lifted its stake in shares of Workday by 25.5% in the 1st quarter. Ramiah Investment Group now owns 2,356 shares of the software maker’s stock worth $306,000 after acquiring an additional 479 shares during the period. Lavelle Capital LP purchased a new stake in Workday in the 1st quarter valued at approximately $928,000. Allen Capital Group LLC boosted its stake in shares of Workday by 10.7% in the first quarter. Allen Capital Group LLC now owns 15,010 shares of the software maker’s stock valued at $1,950,000 after buying an additional 1,452 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new position in shares of Workday during the 1st quarter worth $39,000. 89.81% of the stock is owned by institutional investors and hedge funds.

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.