Zane Rowe Sells 6,000 Shares of Workday (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total transaction of $862,200.00. Following the transaction, the chief financial officer owned 288,460 shares in the company, valued at $41,451,702. This represents a 2.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 Stock Performance

Shares of WDAY stock traded up $5.66 during trading hours on Tuesday, reaching $143.65. The company had a trading volume of 5,902,458 shares, compared to its average volume of 5,196,066. 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 business has a fifty day moving average price of $127.76 and a 200-day moving average price of $149.38. Workday, Inc. has a one year low of $110.36 and a one year high of $249.85. The firm has a market cap of $35.48 billion, a PE ratio of 44.89, a price-to-earnings-growth ratio of 1.45 and a beta of 1.11.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the firm earned $2.23 earnings per share. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. Sell-side analysts predict that Workday, Inc. will post 5.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Workday

A number of institutional investors have recently bought and sold shares of WDAY. Vanguard Group Inc. lifted its position in Workday by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock valued at $5,371,495,000 after purchasing an additional 3,210,232 shares in the last quarter. Auto Owners Insurance Co grew its holdings in Workday by 25,412.8% during the fourth 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 during the period. State Street Corp increased its position in Workday by 1.0% in the fourth quarter. State Street Corp now owns 9,770,707 shares of the software maker’s stock worth $2,098,552,000 after buying an additional 96,139 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in Workday by 47.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock worth $1,406,463,000 after buying an additional 1,882,391 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Workday by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker’s stock worth $1,089,970,000 after buying an additional 75,922 shares during the period. 89.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Summit Redstone set a $275.00 price target on Workday in a research note on Wednesday, May 27th. Citigroup reissued a “market perform” rating on shares of Workday in a report on Friday, May 22nd. UBS Group raised their target price on Workday from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, May 22nd. Royal Bank Of Canada restated an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Workday in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $184.00.

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.