Workday (NASDAQ:WDAY) Shares Gap Down to $230.58

Shares of Workday, Inc. (NASDAQ:WDAY) gapped down before the market opened on Friday . The stock had previously closed at $230.58, but opened at $219.33. Workday shares last traded at $221.93, with a volume of 450,377 shares changing hands.

Wall Street Analysts Forecast Growth

WDAY has been the topic of several recent research reports. Morgan Stanley lowered their price target on shares of Workday from $330.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. Loop Capital lowered their target price on shares of Workday from $280.00 to $240.00 and set a “hold” rating for the company in a research note on Friday, May 24th. StockNews.com lowered shares of Workday from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 8th. Jefferies Financial Group lowered their target price on shares of Workday from $350.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Finally, Barclays reduced their price target on shares of Workday from $316.00 to $286.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $281.44.

Workday Trading Down 2.6 %

The company has a market cap of $59.50 billion, a price-to-earnings ratio of 41.55, a P/E/G ratio of 5.84 and a beta of 1.35. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $226.10 and a 200 day simple moving average of $258.94.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.20. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. The business’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 EPS. On average, equities analysts anticipate that Workday, Inc. will post 2.12 EPS 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, July 12th. The shares were sold at an average price of $229.32, for a total value of $12,841,920.00. Following the completion of the transaction, the insider now owns 562,000 shares of the company’s stock, valued at approximately $128,877,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder David A. Duffield sold 82,762 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $210.28, for a total value of $17,403,193.36. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $21,658,209.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $229.32, for a total transaction of $12,841,920.00. Following the completion of the transaction, the insider now directly owns 562,000 shares of the company’s stock, valued at approximately $128,877,840. The disclosure for this sale can be found here. Insiders sold 524,672 shares of company stock valued at $115,938,834 in the last 90 days. 20.00% of the stock is currently owned by insiders.

Institutional Trading of Workday

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Boomfish Wealth Group LLC grew its holdings in Workday by 17.9% in the 2nd quarter. Boomfish Wealth Group LLC now owns 9,709 shares of the software maker’s stock valued at $2,171,000 after buying an additional 1,475 shares during the period. OFI Invest Asset Management grew its holdings in Workday by 2.4% in the 2nd quarter. OFI Invest Asset Management now owns 4,333 shares of the software maker’s stock valued at $904,000 after buying an additional 103 shares during the period. Hoylecohen LLC grew its holdings in shares of Workday by 0.8% during the 2nd quarter. Hoylecohen LLC now owns 12,507 shares of the software maker’s stock worth $2,796,000 after purchasing an additional 101 shares during the period. Blue Trust Inc. grew its holdings in shares of Workday by 25.2% during the 2nd quarter. Blue Trust Inc. now owns 1,661 shares of the software maker’s stock worth $371,000 after purchasing an additional 334 shares during the period. Finally, Swedbank AB grew its holdings in shares of Workday by 1.1% during the 2nd quarter. Swedbank AB now owns 81,179 shares of the software maker’s stock worth $18,148,000 after purchasing an additional 863 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

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.