Zane Rowe Sells 6,000 Shares of Workday (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) CFO Zane Rowe sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total transaction of $862,200.00. Following the sale, the chief financial officer owned 288,460 shares in the company, valued at $41,451,702. This represents a 2.04% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 Stock Down 4.0%

NASDAQ WDAY opened at $137.88 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85. The stock has a market capitalization of $34.06 billion, a PE ratio of 43.09, a PEG ratio of 1.54 and a beta of 1.11. The business has a fifty day moving average price of $129.10 and a two-hundred day moving average price of $147.76.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.23 earnings per share. Equities analysts expect that Workday, Inc. will post 5.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Workday

Several large investors have recently modified their holdings of the company. Rakuten Securities Inc. acquired a new stake in Workday during the 2nd quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Workday in the 3rd quarter valued at about $26,000. DT Investment Partners LLC bought a new stake in shares of Workday during the 4th quarter valued at about $27,000. LRI Investments LLC acquired a new stake in Workday during the fourth quarter worth approximately $29,000. Finally, JPL Wealth Management LLC acquired a new position in Workday in the third quarter valued at approximately $30,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Workday

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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WDAY. Wolfe Research reiterated an “outperform” rating and issued a $160.00 price target on shares of Workday in a research note on Friday, May 22nd. Jefferies Financial Group boosted their price target on Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Friday, May 22nd. Wall Street Zen upgraded shares of Workday from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. William Blair upgraded shares of Workday to a “strong-buy” rating in a research report on Friday, May 22nd. Finally, Summit Redstone set a $275.00 target price on shares of Workday in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $184.00.

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.