Workday (NASDAQ:WDAY) Major Shareholder David Duffield Sells 107,500 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $128.52, for a total transaction of $13,815,900.00. Following the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $13,500,897.48. This trade represents a 50.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Workday Trading Down 0.9%

Shares of WDAY stock opened at $129.60 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $32.01 billion, a PE ratio of 40.50, a price-to-earnings-growth ratio of 1.39 and a beta of 1.09. The company has a 50-day moving average of $128.05 and a two-hundred day moving average of $158.82. 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, topping the consensus estimate of $2.51 by $0.15. The company 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%. Workday’s revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.23 earnings per share. On average, analysts predict that Workday, Inc. will post 5.4 EPS for the current year.

Wall Street Analyst Weigh In

WDAY has been the subject of several research analyst reports. Weiss Ratings lowered shares of Workday from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 20th. UBS Group raised their price objective on shares of Workday from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, May 22nd. Royal Bank Of Canada reissued an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. Wolfe Research reissued an “outperform” rating and issued a $160.00 price objective on shares of Workday in a research note on Friday, May 22nd. Finally, Oppenheimer reissued an “outperform” rating on shares of Workday in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $185.03.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WDAY. Rakuten Securities Inc. acquired a new stake in Workday in the second quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC acquired a new stake in Workday in the third quarter valued at approximately $26,000. DT Investment Partners LLC acquired a new stake in Workday in the fourth quarter valued at approximately $27,000. LRI Investments LLC acquired a new stake in Workday in the fourth quarter valued at approximately $29,000. Finally, JPL Wealth Management LLC acquired a new stake in Workday in the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

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.