Workday (NASDAQ:WDAY) Major Shareholder David Duffield Sells 80,279 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 80,279 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $215.04, for a total value of $17,263,196.16. Following the sale, the insider owned 105,049 shares of the company’s stock, valued at approximately $22,589,736.96. This represents a 43.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Stock Performance

Workday stock traded down $1.71 during midday trading on Monday, hitting $218.99. The company’s stock had a trading volume of 1,607,377 shares, compared to its average volume of 2,637,688. The company has a 50-day moving average price of $225.39 and a two-hundred day moving average price of $230.37. Workday, Inc. has a 1-year low of $205.33 and a 1-year high of $283.68. The company has a market cap of $57.59 billion, a price-to-earnings ratio of 92.01, a PEG ratio of 2.49 and a beta of 1.15. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same period last year, the firm posted $1.89 earnings per share. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on WDAY shares. Raymond James Financial initiated coverage on shares of Workday in a research note on Friday, November 21st. They issued a “market perform” rating on the stock. Citigroup lowered their target price on shares of Workday from $261.00 to $247.00 and set a “neutral” rating on the stock in a report on Wednesday, November 26th. UBS Group set a $260.00 price target on Workday in a research note on Wednesday, November 26th. Morgan Stanley boosted their price objective on Workday from $255.00 to $280.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 26th. Finally, Zacks Research lowered Workday from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $282.22.

Institutional Investors Weigh In On Workday

A number of hedge funds have recently modified their holdings of WDAY. Brighton Jones LLC grew its position in Workday by 230.2% during the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after acquiring an additional 2,792 shares during the last quarter. CreativeOne Wealth LLC boosted its stake in shares of Workday by 41.9% in the 1st quarter. CreativeOne Wealth LLC now owns 4,099 shares of the software maker’s stock valued at $957,000 after purchasing an additional 1,210 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Workday during the 1st quarter valued at $3,156,000. Canada Pension Plan Investment Board grew its holdings in shares of Workday by 83.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 166,636 shares of the software maker’s stock valued at $38,915,000 after purchasing an additional 76,004 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its position in Workday by 19.7% in the 1st quarter. Evergreen Capital Management LLC now owns 2,313 shares of the software maker’s stock worth $540,000 after purchasing an additional 381 shares during the period. Institutional investors own 89.81% of the company’s stock.

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.