Workday (NASDAQ:WDAY) Major Shareholder David Duffield Sells 107,500 Shares

by · The Markets Daily

Workday, Inc. (NASDAQ:WDAY – Get Free Report) major shareholder David Duffield sold 107,500 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $149.56, for a total transaction of $16,077,700.00. Following the completion of the sale, the insider owned 105,049 shares in the company, valued at approximately $15,711,128.44. This trade represents a 50.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Trading Down 0.4%

WDAY traded down $0.52 on Monday, hitting $143.76. The company had a trading volume of 2,951,128 shares, compared to its average volume of 5,179,460. The firm has a market cap of $35.51 billion, a P/E ratio of 44.93, a PEG ratio of 1.52 and a beta of 1.09. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $257.09. The company’s fifty day moving average price is $127.25 and its 200 day moving average price is $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 – Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.15. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. Workday’s revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.23 EPS. As a group, equities analysts expect that Workday, Inc. will post 5.41 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Raymond James Financial restated a “market perform” rating on shares of Workday in a report on Monday, February 9th. Robert W. Baird set a $195.00 price target on Workday in a report on Tuesday, February 24th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Workday in a report on Friday, May 22nd. Wall Street Zen raised Workday from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $216.00 price target on shares of Workday in a report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $185.03.

View Our Latest Analysis on WDAY

Institutional Investors Weigh In On Workday

Several large investors have recently modified their holdings of the company. First Eagle Investment Management LLC purchased a new position in Workday in the third quarter worth $556,252,000. Norges Bank purchased a new position in Workday in the fourth quarter worth $448,804,000. Robeco Institutional Asset Management B.V. raised its position in Workday by 18.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock worth $122,804,000 after acquiring an additional 88,384 shares in the last quarter. Morningstar Investment Management LLC raised its position in Workday by 127.2% in the fourth quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock worth $5,808,000 after acquiring an additional 15,138 shares in the last quarter. Finally, Sienna Gestion purchased a new position in Workday in the third quarter worth $7,948,000. 89.81% of the stock is owned by institutional investors and hedge funds.

About Workday

(Get Free Report)

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.

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