Insider Selling: Workday (NASDAQ:WDAY) Major Shareholder Sells $14,708,150.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $136.82, for a total transaction of $14,708,150.00. Following the completion of the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $14,372,804.18. This trade represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Price Performance

Workday stock traded down $2.22 during mid-day trading on Wednesday, reaching $127.07. 5,292,016 shares of the company’s stock traded hands, compared to its average volume of 5,223,161. The stock has a 50 day moving average of $154.30 and a two-hundred day moving average of $201.04. Workday, Inc. has a 12-month low of $117.76 and a 12-month high of $276.00. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38. The company has a market cap of $32.66 billion, a price-to-earnings ratio of 49.25, a PEG ratio of 1.33 and a beta of 1.16.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.15. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a net margin of 7.26% and a return on equity of 13.37%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.92 EPS. Equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Workday from $255.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. JPMorgan Chase & Co. cut their target price on Workday from $270.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 24th. Robert W. Baird set a $195.00 price target on Workday in a report on Tuesday, February 24th. Needham & Company LLC restated a “buy” rating and set a $300.00 price objective on shares of Workday in a report on Wednesday, February 25th. Finally, The Goldman Sachs Group cut their price objective on Workday from $238.00 to $206.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Nineteen research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $199.71.

Hedge Funds Weigh In On Workday

Several large investors have recently made changes to their positions in WDAY. Vanguard Group Inc. increased its holdings in shares of Workday by 14.7% in the fourth quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock valued at $5,371,495,000 after buying an additional 3,210,232 shares in the last quarter. Auto Owners Insurance Co raised its position in shares of 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 period. State Street Corp lifted its holdings in shares of Workday by 1.0% during the fourth quarter. State Street Corp now owns 9,770,707 shares of the software maker’s stock valued at $2,098,552,000 after purchasing an additional 96,139 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Workday by 47.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock valued at $1,406,463,000 after purchasing an additional 1,882,391 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Workday by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker’s stock valued at $1,089,970,000 after purchasing an additional 75,922 shares during the period. Institutional investors own 89.81% of the company’s stock.

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.