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 stock in a transaction on Friday, June 12th. The shares were sold at an average price of $128.52, for a total transaction of $13,815,900.00. Following the transaction, the insider owned 105,049 shares in the company, valued at $13,500,897.48. This trade represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transactions with the SEC.

Workday Stock Performance

Shares of WDAY traded down $1.20 during midday trading on Monday, hitting $129.60. 3,493,187 shares of the stock traded hands, compared to its average volume of 5,169,166. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50 day moving average price is $128.10 and its two-hundred day moving average price is $159.55. The firm has a market capitalization of $32.01 billion, a PE ratio of 40.50, a price-to-earnings-growth ratio of 1.39 and a beta of 1.09. Workday, Inc. has a 1-year low of $110.36 and a 1-year high of $249.85.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share 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 company had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the business posted $2.23 EPS. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. Equities research analysts predict that Workday, Inc. will post 5.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Rakuten Securities Inc. bought a new position in Workday in the 2nd quarter worth approximately $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Workday in the 3rd quarter worth approximately $26,000. DT Investment Partners LLC acquired a new position in Workday during the fourth quarter worth $27,000. LRI Investments LLC acquired a new stake in shares of Workday during the 4th quarter worth about $29,000. Finally, JPL Wealth Management LLC bought a new position in shares of Workday in the third quarter valued at approximately $30,000. Institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

WDAY has been the subject of several recent analyst reports. Loop Capital set a $210.00 target price on Workday in a research report on Thursday, March 12th. William Blair raised Workday to a “strong-buy” rating in a research note on Friday, May 22nd. UBS Group lifted their target price on Workday from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, May 22nd. TD Cowen reiterated a “hold” rating on shares of Workday in a report on Friday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Workday from $265.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Workday has a consensus rating of “Moderate Buy” and a consensus price target of $185.03.

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.