Gerrit Kazmaier Sells 2,728 Shares of Workday (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) insider Gerrit Kazmaier sold 2,728 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total transaction of $391,795.36. Following the completion of the sale, the insider directly owned 266,388 shares of the company’s stock, valued at approximately $38,258,644.56. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Trading Down 4.0%

NASDAQ WDAY opened at $137.88 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $34.06 billion, a price-to-earnings ratio of 43.09, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11. The company’s 50-day simple moving average is $129.10 and its two-hundred day simple moving average is $147.76. Workday, Inc. has a one year low of $110.36 and a one year high of $249.85.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the company earned $2.23 EPS. The company’s revenue was up 13.5% compared to the same quarter last year. Equities analysts forecast that Workday, Inc. will post 5.34 EPS for the current fiscal year.

Institutional Trading of Workday

Hedge funds and other institutional investors have recently made changes to their positions in the business. Finivi Inc. boosted its position in shares of Workday by 3.3% in the 3rd quarter. Finivi Inc. now owns 1,516 shares of the software maker’s stock worth $365,000 after purchasing an additional 48 shares in the last quarter. Strategic Investment Advisors MI increased its position in Workday by 1.6% during the 2nd quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker’s stock valued at $777,000 after buying an additional 50 shares in the last quarter. Sagespring Wealth Partners LLC raised its stake in Workday by 3.0% in the fourth quarter. Sagespring Wealth Partners LLC now owns 2,052 shares of the software maker’s stock valued at $441,000 after buying an additional 59 shares during the last quarter. CVA Family Office LLC raised its stake in Workday by 35.3% in the fourth quarter. CVA Family Office LLC now owns 249 shares of the software maker’s stock valued at $53,000 after buying an additional 65 shares during the last quarter. Finally, Aspire Private Capital LLC boosted its holdings in Workday by 1.3% in the fourth quarter. Aspire Private Capital LLC now owns 5,560 shares of the software maker’s stock worth $1,194,000 after acquiring an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Jefferies Financial Group increased their target price on Workday from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Friday, May 22nd. BTIG Research reissued a “buy” rating and issued a $175.00 price target on shares of Workday in a research report on Monday, May 18th. Piper Sandler upped their price objective on Workday from $135.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, May 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Workday in a research report on Friday, May 22nd. Finally, KeyCorp lifted their target price on Workday from $155.00 to $158.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $184.00.

More Workday News

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Workday’s latest quarterly results were strong, with revenue up 13.5% year over year and EPS topping estimates, reinforcing that core demand for its cloud software remains healthy.
• Positive Sentiment: Investors have also responded favorably to Workday’s share repurchase activity and recent analyst support, which helped the stock recover earlier in the week.
• Neutral Sentiment: Recent insider sales by CFO Zane Rowe, President/Chief Product and Technology Officer Gerrit Kazmaier, President Robert Enslin, and major shareholder David A. Duffield were all disclosed as pre-planned Rule 10b5-1 transactions tied to equity vesting and tax withholding, so they are not necessarily a negative operational signal.
• Neutral Sentiment: Workday continues to draw mixed but generally constructive analyst and institutional attention, with multiple buy/overweight ratings offset by some skepticism, keeping sentiment balanced rather than decisively bullish.
• Negative Sentiment: The broader selloff in tech and growth stocks is the main near-term headwind, and that macro-driven weakness appears to be the biggest reason WDAY has been declining today.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.