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, June 4th. The shares were sold at an average price of $149.56, for a total value of $16,077,700.00. Following the completion of the transaction, the insider owned 105,049 shares of the company’s stock, valued at approximately $15,711,128.44. This represents a 50.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Price Performance

Shares of WDAY stock traded down $0.52 during mid-day trading on Monday, reaching $143.76. The stock had a trading volume of 2,951,128 shares, compared to its average volume of 5,179,460. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $257.09. The company has a market cap of $35.51 billion, a P/E ratio of 44.93, a price-to-earnings-growth ratio of 1.52 and a beta of 1.09. The business has a 50-day simple moving average of $127.25 and a 200 day simple moving average of $162.62. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

Workday (NASDAQ:WDAY) last announced 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 business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter last year, the business posted $2.23 earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, sell-side analysts anticipate that Workday, Inc. will post 5.41 earnings per share for the current year.

Institutional Trading of Workday

A number of hedge funds have recently added to or reduced their stakes in WDAY. Rakuten Securities Inc. acquired a new stake in Workday in the 2nd quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new stake in Workday in the 3rd quarter worth about $26,000. DT Investment Partners LLC acquired a new stake in Workday in the 4th quarter worth about $27,000. LRI Investments LLC acquired a new stake in Workday in the 4th quarter worth about $29,000. Finally, JPL Wealth Management LLC acquired a new stake in Workday in the 3rd quarter worth about $30,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WDAY has been the topic of a number of analyst reports. Rosenblatt Securities decreased their price objective on Workday from $180.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Wall Street Zen raised Workday from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. The Goldman Sachs Group decreased their price objective on Workday from $206.00 to $151.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 26th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $216.00 price objective on shares of Workday in a research note on Friday, May 22nd. Finally, Loop Capital set a $210.00 price objective on Workday in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Workday has an average rating of “Moderate Buy” and an average 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.