Workday (NASDAQ:WDAY) Major Shareholder David Duffield Sells 94,961 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 94,961 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $199.29, for a total transaction of $18,924,777.69. Following the completion of the transaction, the insider directly owned 105,049 shares in the company, valued at $20,935,215.21. The trade was a 47.48% decrease in their position. The sale was disclosed in a legal 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. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Stock Performance

NASDAQ WDAY opened at $206.92 on Friday. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $249.85. The company has a fifty day moving average of $164.58 and a 200-day moving average of $142.24. The company has a market capitalization of $51.11 billion, a P/E ratio of 41.97, a P/E/G ratio of 2.03 and a beta of 1.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.14. Workday had a return on equity of 20.95% and a net margin of 12.32%.The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the prior year, the firm earned $2.21 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. As a group, equities research analysts predict that Workday, Inc. will post 5.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on WDAY. TD Cowen dropped their target price on Workday from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday, August 28th. HC Wainwright set a $140.00 price target on shares of Workday in a research report on Wednesday, May 27th. Robert W. Baird lifted their price target on shares of Workday from $190.00 to $215.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. William Blair restated an “outperform” rating on shares of Workday in a report on Friday, August 28th. Finally, Jefferies Financial Group set a $220.00 price objective on shares of Workday in a research note on Friday, August 28th. Twenty research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Workday presently has an average rating of “Hold” and an average price target of $206.34.

Hedge Funds Weigh In On Workday

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cygnus Capital Advisors LLC grew its holdings in shares of Workday by 14.5% in the second quarter. Cygnus Capital Advisors LLC now owns 24,960 shares of the software maker’s stock worth $3,056,000 after purchasing an additional 3,160 shares during the last quarter. California State Teachers Retirement System raised its holdings in Workday by 11,770.8% during the 2nd quarter. California State Teachers Retirement System now owns 36,907,426 shares of the software maker’s stock valued at $4,518,207,000 after buying an additional 36,596,516 shares during the last quarter. Paralel Advisors LLC purchased a new stake in Workday during the 2nd quarter valued at $2,178,000. Wedmont Private Capital boosted its position in Workday by 25.9% during the 2nd quarter. Wedmont Private Capital now owns 2,751 shares of the software maker’s stock valued at $337,000 after buying an additional 566 shares during the period. Finally, Kintra Wealth LLC bought a new stake in Workday in the 2nd quarter worth $499,000. 89.81% of the stock is currently owned by institutional investors.

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.