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 that occurred on Tuesday, June 9th. The shares were sold at an average price of $138.32, for a total value of $14,869,400.00. Following the completion of the sale, the insider owned 105,049 shares in the company, valued at approximately $14,530,377.68. This trade represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Stock Up 0.2%

Workday stock opened at $130.80 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. Workday, Inc. has a 1-year low of $110.36 and a 1-year high of $249.85. The company has a market cap of $32.31 billion, a PE ratio of 40.88, a price-to-earnings-growth ratio of 1.38 and a beta of 1.09. The stock’s 50 day moving average price is $128.10 and its 200 day moving average price is $160.02.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results 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. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the business earned $2.23 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, sell-side analysts predict that Workday, Inc. will post 5.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Workday

Several hedge funds and other institutional investors have recently bought and sold shares of WDAY. Auto Owners Insurance Co raised its holdings in Workday by 25,412.8% during the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock worth $2,197,332,000 after purchasing an additional 10,190,516 shares during the last quarter. Vanguard Group Inc. raised its holdings in Workday by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock worth $5,371,495,000 after purchasing an additional 3,210,232 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Workday by 101.4% during the fourth quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker’s stock worth $1,077,537,000 after purchasing an additional 2,525,821 shares during the last quarter. First Eagle Investment Management LLC acquired a new position in Workday during the third quarter worth $556,252,000. Finally, Norges Bank acquired a new position in shares of Workday in the fourth quarter worth $448,804,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WDAY shares. KeyCorp lifted their price target on Workday from $155.00 to $158.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Needham & Company LLC decreased their price target on Workday from $300.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Wall Street Zen upgraded Workday from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Barclays upgraded Workday from an “overweight” rating to a “buy” rating in a research note on Friday, May 22nd. Finally, William Blair upgraded Workday to a “strong-buy” rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $185.03.

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.