Workday, Inc. (NASDAQ:WDAY) Director Wayne A.I. Frederick Sells 1,828 Shares

Workday, Inc. (NASDAQ:WDAY) Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $241.85, for a total value of $442,101.80. Following the completion of the sale, the director now owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Workday Stock Performance

NASDAQ WDAY traded up $2.36 on Tuesday, hitting $244.83. 2,184,059 shares of the company traded hands, compared to its average volume of 2,162,403. The company has a market capitalization of $64.88 billion, a price-to-earnings ratio of 44.36, a P/E/G ratio of 4.87 and a beta of 1.35. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average price is $242.67 and its 200-day moving average price is $238.58. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.10. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. Workday’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. Equities analysts expect that Workday, Inc. will post 2.4 earnings per share for the current year.

Hedge Funds Weigh In On Workday

Large investors have recently made changes to their positions in the business. Crewe Advisors LLC purchased a new position in shares of Workday in the first quarter valued at about $27,000. Sound Income Strategies LLC lifted its position in shares of Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after acquiring an additional 49 shares in the last quarter. SouthState Corp lifted its position in shares of Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after acquiring an additional 129 shares in the last quarter. Goodman Advisory Group LLC purchased a new position in shares of Workday in the second quarter valued at about $35,000. Finally, Asset Dedication LLC purchased a new position in shares of Workday in the second quarter valued at about $36,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Evercore ISI dropped their price objective on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Canaccord Genuity Group restated a “buy” rating and issued a $300.00 target price on shares of Workday in a research note on Friday, September 13th. Guggenheim restated a “sell” rating and issued a $190.00 target price on shares of Workday in a research note on Tuesday, June 25th. Citigroup lowered their target price on Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. Finally, KeyCorp raised their target price on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $287.04.

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.