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

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $115.60, for a total transaction of $12,427,000.00. Following the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $12,143,664.40. This trade represents a 50.58% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Stock Performance

Workday stock opened at $123.58 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $30.52 billion, a PE ratio of 38.62, a P/E/G ratio of 1.33 and a beta of 1.09. The company has a 50 day moving average price of $127.44 and a 200-day moving average price of $151.94. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.15. The company had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.Workday’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.23 earnings per share. As a group, equities analysts forecast that Workday, Inc. will post 5.34 earnings per share for the current year.

Institutional Investors Weigh In On Workday

Institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its position in Workday by 60.4% during the first quarter. Pacer Advisors Inc. now owns 1,227,051 shares of the software maker’s stock valued at $159,418,000 after purchasing an additional 462,002 shares in the last quarter. Carmignac Gestion bought a new position in Workday in the first quarter worth about $59,438,000. Militia Capital Management LLC purchased a new stake in shares of Workday during the first quarter valued at about $466,000. NewEdge Advisors LLC boosted its holdings in shares of Workday by 97.2% in the 1st quarter. NewEdge Advisors LLC now owns 10,857 shares of the software maker’s stock valued at $1,411,000 after buying an additional 5,351 shares in the last quarter. Finally, Ramiah Investment Group boosted its holdings in shares of Workday by 25.5% in the 1st quarter. Ramiah Investment Group now owns 2,356 shares of the software maker’s stock valued at $306,000 after buying an additional 479 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WDAY shares. DA Davidson set a $135.00 price target on Workday in a research note on Tuesday, May 26th. Wall Street Zen raised shares of Workday from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Needham & Company LLC dropped their target price on shares of Workday from $300.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Workday in a report on Wednesday, June 17th. Finally, Barclays raised shares of Workday from an “overweight” rating to a “buy” rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $184.00.

About Workday

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.