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 firm’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $136.74, for a total transaction of $14,699,550.00. Following the sale, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $14,364,400.26. The trade was a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 sales and purchases with the SEC.

Workday Stock Performance

Workday stock opened at $144.87 on Tuesday. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $249.85. The company has a market capitalization of $35.78 billion, a price-to-earnings ratio of 45.27, a price-to-earnings-growth ratio of 1.49 and a beta of 1.11. 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’s fifty day moving average price is $130.23 and its 200 day moving average price is $146.14.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data 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 company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.23 EPS. On average, research analysts forecast that Workday, Inc. will post 5.34 EPS for the current fiscal year.

Analysts Set New Price Targets

WDAY has been the subject of a number of analyst reports. Royal Bank Of Canada reissued an “outperform” rating on shares of Workday in a report on Friday, May 22nd. Oppenheimer restated an “outperform” rating on shares of Workday in a report on Thursday, June 11th. Wall Street Zen raised Workday from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Bank of America assumed coverage on Workday in a research note on Wednesday, May 27th. They set a “neutral” rating and a $140.00 target price for the company. Finally, Wolfe Research reissued an “outperform” rating and set a $160.00 price target on shares of Workday in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $184.00.

Institutional Trading of Workday

Several hedge funds and other institutional investors have recently bought and sold shares of WDAY. Norges Bank bought a new position in Workday during the fourth quarter worth $448,804,000. Harvest Fund Management Co. Ltd boosted its holdings in Workday by 40.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock worth $11,943,000 after purchasing an additional 15,903 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Workday by 18.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock valued at $122,804,000 after purchasing an additional 88,384 shares during the last quarter. Aurora Investment Counsel bought a new stake in Workday during the fourth quarter valued at $2,357,000. Finally, Morningstar Investment Management LLC raised its holdings in shares of Workday by 127.2% during the fourth quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock worth $5,808,000 after purchasing an additional 15,138 shares during the period. 89.81% of the stock is owned by institutional investors.

Trending Headlines about Workday

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Investors are favoring enterprise software after a sharp selloff in semiconductors, lifting Workday along with peers like Salesforce and PagerDuty. Salesforce, Workday, and PagerDuty Stocks Trade Up, What You Need To Know
• Positive Sentiment: Analysts continue to view Workday as attractively valued versus some enterprise AI/software peers, with rising earnings estimates supporting the bullish case. Workday vs. Arista: Which Enterprise AI Stock Has More Upside Now?
• Neutral Sentiment: Workday was mentioned in a mixed session for enterprise software as the Nasdaq came under pressure, indicating sector-wide volatility rather than company-specific news. Enterprise software stocks mixed as tech-heavy Nasdaq takes hit
• Negative Sentiment: Insider selling by major shareholder David A. Duffield may create some caution, even though the sale was made under a pre-arranged trading plan. Workday insider trade disclosure

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.