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

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of Workday stock in a transaction on Monday, July 6th. The shares were sold at an average price of $135.24, for a total value of $14,538,300.00. Following the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $14,206,826.76. The trade was a 50.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Down 4.0%

Shares of NASDAQ:WDAY opened at $137.88 on Thursday. The company’s fifty day moving average is $129.10 and its 200-day moving average is $147.76. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85. The company has a market capitalization of $34.06 billion, a PE ratio of 43.09, a P/E/G ratio of 1.54 and a beta of 1.11.

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

Workday News Roundup

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Workday’s latest quarterly results were strong, with revenue up 13.5% year over year and EPS topping estimates, reinforcing that core demand for its cloud software remains healthy.
• Positive Sentiment: Investors have also responded favorably to Workday’s share repurchase activity and recent analyst support, which helped the stock recover earlier in the week.
• Neutral Sentiment: Recent insider sales by CFO Zane Rowe, President/Chief Product and Technology Officer Gerrit Kazmaier, President Robert Enslin, and major shareholder David A. Duffield were all disclosed as pre-planned Rule 10b5-1 transactions tied to equity vesting and tax withholding, so they are not necessarily a negative operational signal.
• Neutral Sentiment: Workday continues to draw mixed but generally constructive analyst and institutional attention, with multiple buy/overweight ratings offset by some skepticism, keeping sentiment balanced rather than decisively bullish.
• Negative Sentiment: The broader selloff in tech and growth stocks is the main near-term headwind, and that macro-driven weakness appears to be the biggest reason WDAY has been declining today.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Workday in a research note on Wednesday, June 17th. Loop Capital set a $210.00 price objective on Workday in a research report on Thursday, March 12th. Oppenheimer reissued an “outperform” rating on shares of Workday in a research note on Thursday, June 11th. Wolfe Research restated an “outperform” rating and set a $160.00 target price on shares of Workday in a report on Friday, May 22nd. Finally, Needham & Company LLC lowered their target price on Workday from $300.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. One 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $184.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Rakuten Securities Inc. acquired a new stake in shares of Workday in the 2nd quarter valued at $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Workday during the third quarter valued at $26,000. DT Investment Partners LLC bought a new position in Workday in the fourth quarter valued at about $27,000. LRI Investments LLC bought a new position in Workday in the fourth quarter valued at about $29,000. Finally, JPL Wealth Management LLC acquired a new stake in Workday in the third quarter worth about $30,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.