Insider Selling: Workday, Inc. (NASDAQ:WDAY) Insider Sells $926,236.30 in Stock

Workday, Inc. (NASDAQ:WDAY) insider Richard Harry Sauer sold 3,677 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $251.90, for a total transaction of $926,236.30. Following the transaction, the insider now directly owns 79,576 shares of the company’s stock, valued at $20,045,194.40. The trade was a 4.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Workday Price Performance

WDAY opened at $254.69 on Friday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The business’s fifty day simple moving average is $262.35 and its 200-day simple moving average is $245.50. The company has a market capitalization of $67.75 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the firm earned $0.47 EPS. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities research analysts anticipate that Workday, Inc. will post 2.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on WDAY shares. Morgan Stanley upped their price objective on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Needham & Company LLC restated a “buy” rating and set a $300.00 price objective on shares of Workday in a research report on Monday, November 25th. Canaccord Genuity Group reissued a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Friday, September 13th. Bank of America dropped their price objective on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, Piper Sandler reiterated a “neutral” rating and set a $270.00 target price (down from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $292.25.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WDAY. The Manufacturers Life Insurance Company boosted its position in shares of Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after purchasing an additional 1,016,394 shares in the last quarter. Two Sigma Advisers LP boosted its position in Workday by 1,094.2% in the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after buying an additional 562,400 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after acquiring an additional 480,459 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in Workday during the 3rd quarter worth about $78,003,000. Finally, D1 Capital Partners L.P. grew its holdings in Workday by 152.1% during the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock worth $115,804,000 after acquiring an additional 312,500 shares during the period. Institutional investors own 89.81% of the company’s stock.

Workday Company Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.