Workday, Inc. (NASDAQ:WDAY) CEO Sells $733,156.25 in Stock

Workday, Inc. (NASDAQ:WDAY) CEO Carl M. Eschenbach sold 3,125 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total value of $733,156.25. Following the transaction, the chief executive officer now directly owns 10,847 shares in the company, valued at $2,544,814.67. This represents a 22.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Workday Stock Performance

Workday stock opened at $217.14 on Friday. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $254.30 and a two-hundred day simple moving average of $254.04. The company has a market capitalization of $57.76 billion, a PE ratio of 36.01, a P/E/G ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Research analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group increased their target price on shares of Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Needham & Company LLC restated a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Monday, March 24th. Piper Sandler lifted their price target on Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Morgan Stanley lowered Workday from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $330.00 to $275.00 in a research note on Wednesday, February 19th. Finally, BMO Capital Markets raised their target price on Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $300.18.

Hedge Funds Weigh In On Workday

A number of hedge funds have recently modified their holdings of the company. Roxbury Financial LLC purchased a new position in Workday during the 4th quarter valued at about $25,000. Crews Bank & Trust purchased a new position in shares of Workday during the fourth quarter valued at approximately $26,000. Avion Wealth raised its holdings in shares of Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares in the last quarter. TCTC Holdings LLC purchased a new stake in Workday in the fourth quarter worth $35,000. Finally, Rakuten Securities Inc. boosted its holdings in Workday by 78.6% in the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock valued at $39,000 after acquiring an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

About Workday

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.