Carl M. Eschenbach Sells 3,125 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) CEO Carl M. Eschenbach sold 3,125 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total value of $733,156.25. Following the completion of the sale, the chief executive officer now directly owns 10,847 shares in the company, valued at $2,544,814.67. This represents a 22.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Workday Stock Down 4.9 %

WDAY stock opened at $217.14 on Friday. The stock has a market capitalization of $57.76 billion, a PE ratio of 36.01, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The company has a fifty day moving average of $254.30 and a 200-day moving average of $254.09. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. As a group, analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Analysts Set New Price Targets

WDAY has been the topic of a number of analyst reports. KeyCorp raised their price objective on shares of Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Jefferies Financial Group lowered their price objective on Workday from $350.00 to $325.00 and set a “buy” rating for the company in a research report on Monday, March 31st. BMO Capital Markets increased their price objective on Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. JPMorgan Chase & Co. boosted their target price on Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and increased their price target for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $300.18.

Institutional Trading of Workday

Institutional investors have recently modified their holdings of the business. Captrust Financial Advisors boosted its position in shares of Workday by 24.2% during the 3rd quarter. Captrust Financial Advisors now owns 12,853 shares of the software maker’s stock worth $3,141,000 after purchasing an additional 2,506 shares in the last quarter. Benjamin Edwards Inc. purchased a new stake in Workday during the third quarter worth about $345,000. Hilltop Holdings Inc. acquired a new position in Workday during the third quarter worth about $629,000. Investment Management Corp of Ontario increased its holdings in Workday by 48.5% in the third quarter. Investment Management Corp of Ontario now owns 7,038 shares of the software maker’s stock valued at $1,720,000 after buying an additional 2,300 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its position in shares of Workday by 8.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,646 shares of the software maker’s stock valued at $402,000 after acquiring an additional 130 shares during the period. 89.81% of the stock is currently owned by hedge funds and other 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.