Workday (NASDAQ:WDAY) Trading Down 2.7%

Workday, Inc. (NASDAQ:WDAY) shares traded down 2.7% during mid-day trading on Monday . The stock traded as low as $247.18 and last traded at $248.79. 692,764 shares traded hands during trading, a decline of 62% from the average session volume of 1,814,049 shares. The stock had previously closed at $255.78.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WDAY. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research note on Tuesday, February 27th. BMO Capital Markets increased their target price on Workday from $290.00 to $338.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. KeyCorp upped their price target on Workday from $310.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. TheStreet upgraded Workday from a “c” rating to a “b-” rating in a research report on Monday, February 26th. Finally, Morgan Stanley dropped their price target on Workday from $335.00 to $330.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $293.61.

Workday Stock Performance

The stock has a market capitalization of $65.90 billion, a PE ratio of 48.47, a price-to-earnings-growth ratio of 6.39 and a beta of 1.33. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average of $266.02 and a 200-day moving average of $266.06.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. Workday’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.14) EPS. Equities analysts anticipate that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $264.89, for a total value of $14,833,840.00. Following the transaction, the insider now owns 843,000 shares in the company, valued at approximately $223,302,270. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder David A. Duffield sold 65,221 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $268.29, for a total transaction of $17,498,142.09. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $27,633,065.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $264.89, for a total value of $14,833,840.00. Following the sale, the insider now directly owns 843,000 shares in the company, valued at approximately $223,302,270. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 435,691 shares of company stock worth $117,731,569. Corporate insiders own 21.09% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WDAY. Beacon Capital Management LLC increased its holdings in Workday by 333.3% in the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after purchasing an additional 70 shares in the last quarter. VisionPoint Advisory Group LLC increased its holdings in Workday by 215.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after purchasing an additional 84 shares in the last quarter. Clear Street Markets LLC purchased a new position in Workday in the 3rd quarter valued at about $29,000. Exchange Traded Concepts LLC grew its stake in shares of Workday by 1,750.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after acquiring an additional 105 shares in the last quarter. Finally, Sound Income Strategies LLC grew its stake in shares of Workday by 74.2% during 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. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.