Workday (NASDAQ:WDAY) Major Shareholder Sells $14,869,400.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $138.32, for a total transaction of $14,869,400.00. Following the sale, the insider owned 105,049 shares of the company’s stock, valued at approximately $14,530,377.68. This represents a 50.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Workday Price Performance

Shares of WDAY opened at $130.80 on Friday. The firm has a market cap of $32.31 billion, a PE ratio of 40.88, a P/E/G ratio of 1.39 and a beta of 1.09. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The firm has a fifty day simple moving average of $128.10 and a two-hundred day simple moving average of $160.02. Workday, Inc. has a 1-year low of $110.36 and a 1-year high of $249.85.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. The business had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.23 EPS. On average, equities analysts anticipate that Workday, Inc. will post 5.4 EPS for the current year.

Analysts Set New Price Targets

WDAY has been the subject of a number of research reports. Bank of America initiated coverage on shares of Workday in a research note on Wednesday, May 27th. They set a “neutral” rating and a $140.00 target price for the company. Mizuho reduced their price objective on Workday from $275.00 to $210.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Morgan Stanley reduced their price objective on Workday from $280.00 to $200.00 and set an “equal weight” rating for the company in a research note on Monday, February 23rd. Rosenblatt Securities reduced their price objective on Workday from $180.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Finally, Cantor Fitzgerald reduced their price objective on Workday from $200.00 to $160.00 and set an “overweight” rating for the company in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $185.03.

Institutional Investors Weigh In On Workday

Several hedge funds and other institutional investors have recently modified their holdings of WDAY. Brighton Jones LLC increased its stake in shares of Workday by 230.2% in the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after purchasing an additional 2,792 shares in the last quarter. Empowered Funds LLC boosted its holdings in Workday by 12.1% in the 1st quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock worth $2,602,000 after buying an additional 1,206 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Workday by 211.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after buying an additional 127 shares during the period. Sivia Capital Partners LLC bought a new position in Workday in the 2nd quarter worth $281,000. Finally, NewEdge Advisors LLC boosted its holdings in Workday by 32.0% in the 2nd quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker’s stock worth $1,583,000 after buying an additional 1,600 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.