Carl M. Eschenbach Sells 6,250 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $239.43, for a total value of $1,496,437.50. Following the completion of the sale, the chief executive officer directly owned 1,472 shares of the company’s stock, valued at approximately $352,440.96. This represents a 80.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Workday Price Performance

NASDAQ WDAY opened at $242.03 on Friday. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The stock’s 50-day moving average is $249.27 and its two-hundred day moving average is $249.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market cap of $64.62 billion, a P/E ratio of 133.72, a price-to-earnings-growth ratio of 3.65 and a beta of 1.21.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.22. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.74 earnings per share. On average, analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several research analyst reports. Stifel Nicolaus reduced their price objective on Workday from $310.00 to $275.00 and set a “hold” rating for the company in a research note on Friday, May 23rd. Scotiabank reduced their price objective on Workday from $355.00 to $305.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. DA Davidson increased their price objective on Workday from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Friday, May 23rd. KeyCorp reduced their price objective on Workday from $335.00 to $325.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd. Finally, Westpark Capital increased their price objective on Workday from $315.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Nine equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $297.68.

Hedge Funds Weigh In On Workday

Institutional investors have recently made changes to their positions in the business. Cornerstone Planning Group LLC increased its stake in shares of Workday by 76.1% in the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker’s stock worth $28,000 after purchasing an additional 54 shares during the period. Dagco Inc. bought a new position in shares of Workday in the first quarter worth about $31,000. Farmers & Merchants Investments Inc. bought a new position in shares of Workday in the first quarter worth about $32,000. TCTC Holdings LLC bought a new position in shares of Workday in the fourth quarter worth about $35,000. Finally, Financial Management Professionals Inc. increased its stake in shares of Workday by 54.0% in the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker’s stock worth $36,000 after purchasing an additional 54 shares during the period. 89.81% of the stock is currently owned by institutional investors.

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.