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

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $122.04, for a total value of $13,119,300.00. Following the completion of the sale, the insider owned 105,049 shares in the company, valued at $12,820,179.96. This represents a 50.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Stock Up 3.9%

WDAY opened at $135.40 on Friday. The firm has a market cap of $33.44 billion, a P/E ratio of 42.31, a PEG ratio of 1.39 and a beta of 1.11. The business’s fifty day simple moving average is $127.58 and its 200 day simple moving average is $149.94. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm posted $2.23 EPS. Workday’s revenue was up 13.5% on a year-over-year basis. As a group, equities research analysts anticipate that Workday, Inc. will post 5.34 EPS for the current fiscal year.

Analyst Ratings Changes

WDAY has been the subject of a number of analyst reports. Wolfe Research reissued an “outperform” rating and issued a $160.00 price target on shares of Workday in a report on Friday, May 22nd. Monness Crespi & Hardt upgraded Workday from a “neutral” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Thursday, June 25th. Cantor Fitzgerald restated an “overweight” rating on shares of Workday in a research note on Wednesday, June 17th. The Goldman Sachs Group reduced their price objective on Workday from $206.00 to $151.00 and set a “neutral” rating for the company in a research report on Tuesday, May 26th. Finally, Citigroup restated a “market perform” rating on shares of Workday in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and an average target price of $184.00.

Hedge Funds Weigh In On Workday

A number of hedge funds have recently modified their holdings of the stock. Rakuten Securities Inc. acquired a new position in Workday during the second quarter worth $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Workday in the third quarter valued at approximately $26,000. DT Investment Partners LLC acquired a new stake in Workday in the 4th quarter worth $27,000. LRI Investments LLC bought a new position in Workday during the fourth quarter valued at about $29,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Workday in the third quarter valued at $30,000. 89.81% of the stock is owned by institutional investors and hedge funds.

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.