Traders Buy Workday (WDAY) on Weakness on Insider Selling

Traders bought shares of Workday Inc (NASDAQ:WDAY) on weakness during trading on Tuesday after an insider sold shares in the company. $117.83 million flowed into the stock on the tick-up and $46.52 million flowed out of the stock on the tick-down, for a money net flow of $71.31 million into the stock. Of all equities tracked, Workday had the 8th highest net in-flow for the day. Workday traded down ($2.32) for the day and closed at $102.49Specifically, CFO Robynne Sisco sold 5,267 shares of Workday stock in a transaction on Monday, October 16th. The shares were sold at an average price of $107.36, for a total value of $565,465.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David A. Duffield sold 482,001 shares of Workday stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $103.77, for a total transaction of $50,017,243.77. The disclosure for this sale can be found here. Insiders sold a total of 1,521,555 shares of company stock worth $161,741,409 in the last three months. 37.71% of the stock is owned by corporate insiders.

Several equities research analysts have issued reports on WDAY shares. J P Morgan Chase & Co reaffirmed a “buy” rating and set a $120.00 target price on shares of Workday in a research note on Tuesday, November 28th. Canaccord Genuity reissued a “buy” rating and set a $125.00 price target on shares of Workday in a research report on Friday, October 6th. FBN Securities raised shares of Workday from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $115.00 to $125.00 in a research report on Wednesday, October 11th. BidaskClub raised shares of Workday from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 22nd. Finally, Cowen reissued a “market perform” rating and set a $100.00 price target on shares of Workday in a research report on Saturday, October 14th. Four investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $103.03.

The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.74.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Wednesday, November 29th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.10. The firm had revenue of $555.40 million for the quarter, compared to analyst estimates of $541.05 million. Workday had a negative net margin of 16.91% and a negative return on equity of 19.73%. Workday’s revenue was up 35.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 EPS. equities analysts forecast that Workday Inc will post -1.1 earnings per share for the current year.

Large investors have recently modified their holdings of the business. IBM Retirement Fund purchased a new stake in Workday during the third quarter worth about $204,000. Janus Henderson Group PLC increased its stake in Workday by 6,210.6% during the second quarter. Janus Henderson Group PLC now owns 1,038,153 shares of the software maker’s stock worth $100,701,000 after purchasing an additional 1,021,702 shares during the period. First Trust Advisors LP increased its stake in Workday by 338.4% during the second quarter. First Trust Advisors LP now owns 64,106 shares of the software maker’s stock worth $6,218,000 after purchasing an additional 49,483 shares during the period. Xact Kapitalforvaltning AB increased its stake in Workday by 9.5% during the third quarter. Xact Kapitalforvaltning AB now owns 10,933 shares of the software maker’s stock worth $1,152,000 after purchasing an additional 949 shares during the period. Finally, Pictet Asset Management Ltd. increased its stake in Workday by 7.8% during the third quarter. Pictet Asset Management Ltd. now owns 49,700 shares of the software maker’s stock worth $5,238,000 after purchasing an additional 3,600 shares during the period. Institutional investors own 67.58% of the company’s stock.

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Workday Company Profile

Workday, Inc is a provider of enterprise cloud applications for finance and human resources. The Company delivers financial management, human capital management and analytics applications designed for various companies, educational institutions and government agencies. As part of its applications, the Company provides embedded analytics that capture the content and context of everyday business events, facilitating informed decision-making from wherever users are working.

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