Workday (NASDAQ:WDAY) Major Shareholder Sells $18,318,187.41 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 94,089 shares of the company’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $194.69, for a total transaction of $18,318,187.41. Following the completion of the sale, the insider directly owned 105,049 shares in the company, valued at $20,451,989.81. This trade represents a 47.25% decrease in their position. The sale 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 more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Trading Up 2.2%

Shares of WDAY opened at $192.38 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91. Workday, Inc. has a 1-year low of $110.36 and a 1-year high of $249.85. The stock has a market cap of $46.36 billion, a price-to-earnings ratio of 39.02, a price-to-earnings-growth ratio of 1.90 and a beta of 1.08. The firm has a 50 day simple moving average of $180.15 and a 200-day simple moving average of $147.39.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.14. Workday had a return on equity of 20.95% and a net margin of 12.32%.The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the prior year, the firm earned $2.21 EPS. Workday’s quarterly revenue was up 12.8% on a year-over-year basis. Equities analysts forecast that Workday, Inc. will post 5.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Auto Owners Insurance Co grew its holdings in Workday by 25,412.8% in the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock valued at $2,197,332,000 after purchasing an additional 10,190,516 shares during the period. Geode Capital Management LLC raised its stake in Workday by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker’s stock worth $1,089,970,000 after purchasing an additional 75,922 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Workday by 101.4% in the 4th quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker’s stock valued at $1,077,537,000 after purchasing an additional 2,525,821 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Workday by 8.7% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,803,568 shares of the software maker’s stock valued at $364,217,000 after purchasing an additional 223,493 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Workday during the 4th quarter valued at $448,804,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WDAY has been the topic of a number of recent research reports. Robert W. Baird upped their target price on shares of Workday from $190.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Jefferies Financial Group set a $220.00 price objective on shares of Workday in a research report on Friday, August 28th. UBS Group set a $230.00 price objective on shares of Workday in a research note on Friday, August 28th. Capital One Financial set a $219.00 target price on shares of Workday and gave the stock an “equal weight” rating in a research report on Friday, August 28th. Finally, HC Wainwright set a $140.00 target price on shares of Workday in a research note on Wednesday, May 27th. Twenty research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $206.34.

Workday Company Profile

Workday, Inc develops cloud-based enterprise software designed to help organizations manage finance, human resources and related business operations. Its platform provides tools for financial management, accounting, procurement, expenses, payroll, workforce management, recruiting, talent management, employee experience and enterprise planning.

The company also offers analytics, reporting and artificial intelligence capabilities that support budgeting, forecasting, workforce planning and business decision-making.