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

Workday, Inc. (NASDAQ:WDAY) CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $187.23, for a total transaction of $1,123,380.00. Following the completion of the transaction, the chief financial officer owned 269,642 shares in the company, valued at approximately $50,485,071.66. This represents a 2.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 Stock Down 1.2%

Shares of WDAY traded down $2.29 on Wednesday, hitting $184.26. 1,519,182 shares of the stock traded hands, compared to its average volume of 4,756,018. The company has a market capitalization of $44.41 billion, a PE ratio of 37.38, a P/E/G ratio of 1.89 and a beta of 1.07. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. The business has a 50 day simple moving average of $188.46 and a 200 day simple moving average of $150.56. Workday, Inc. has a one year low of $110.36 and a one year high of $247.40.

Workday (NASDAQ:WDAY) last released its quarterly earnings data 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 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 period in the prior year, the firm posted $2.21 EPS. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, equities analysts forecast that Workday, Inc. will post 5.33 earnings per share for the current fiscal year.

Institutional Trading of Workday

Several large investors have recently modified their holdings of WDAY. Auto Owners Insurance Co boosted its position in Workday by 25,412.8% in the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock worth $2,197,332,000 after purchasing an additional 10,190,516 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of 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. Contour Asset Management LLC purchased a new stake in shares of Workday during the 4th quarter valued at about $184,083,000. Pacer Advisors Inc. lifted its stake in shares of Workday by 840.9% in the 4th quarter. Pacer Advisors Inc. now owns 765,049 shares of the software maker’s stock worth $164,317,000 after purchasing an additional 683,741 shares during the period. Finally, Lead Edge Capital Management LLC purchased a new stake in Workday during the first quarter valued at approximately $79,988,000. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. The Goldman Sachs Group increased 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. Wells Fargo & Company boosted their target price on Workday from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, August 28th. Sanford C. Bernstein upped their target price on shares of Workday from $216.00 to $238.00 and gave the company an “outperform” rating in a research note on Friday, August 28th. Guggenheim reaffirmed a “buy” rating and set a $275.00 price target on shares of Workday in a report on Friday, August 21st. Finally, Jefferies Financial Group set a $220.00 price target on shares of Workday in a research note on Friday, August 28th. Twenty investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Workday has an average rating of “Hold” and a consensus target price of $206.34.

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.