Insider Selling: Workday, Inc. (NASDAQ:WDAY) Insider Sells 6,056 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total value of $1,607,868.00. Following the completion of the transaction, the insider now owns 111,324 shares of the company’s stock, valued at $29,556,522. The trade was a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Workday Stock Down 3.3 %

Shares of NASDAQ:WDAY traded down $8.77 during trading on Monday, hitting $254.57. 1,895,431 shares of the company were exchanged, compared to its average volume of 2,465,586. The firm’s 50 day moving average price is $259.48 and its 200-day moving average price is $255.31. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a market capitalization of $67.72 billion, a P/E ratio of 42.22, a PEG ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results 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 during 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%. On average, research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after acquiring an additional 4,517,272 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in Workday during the 4th quarter worth $658,735,000. Norges Bank purchased a new position in Workday during the 4th quarter worth $645,710,000. Parnassus Investments LLC grew its position in Workday by 562.2% during the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after purchasing an additional 2,078,097 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Workday by 61.9% in the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock valued at $1,193,105,000 after purchasing an additional 1,772,223 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

WDAY has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Canaccord Genuity Group lifted their price target on shares of Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Morgan Stanley downgraded shares of Workday from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $330.00 to $275.00 in a research note on Wednesday, February 19th. Stifel Nicolaus lifted their target price on shares of Workday from $270.00 to $310.00 and gave the company a “hold” rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their price target on Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $302.14.

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.