Workday (NASDAQ:WDAY) Major Shareholder David Duffield Sells 90,615 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 90,615 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $198.14, for a total transaction of $17,954,456.10. Following the transaction, the insider owned 105,049 shares in the company, valued at $20,814,408.86. This represents a 46.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Trading Down 0.1%

WDAY opened at $186.05 on Thursday. The business has a 50 day moving average of $169.85 and a 200-day moving average of $143.60. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. The stock has a market cap of $44.84 billion, a PE ratio of 37.74, a PEG ratio of 1.88 and a beta of 1.08. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter last year, the firm posted $2.21 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities research analysts predict that Workday, Inc. will post 5.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WDAY. Jefferies Financial Group set a $220.00 target price on shares of Workday in a report on Friday, August 28th. Lake Street Capital set a $205.00 target price on shares of Workday in a research note on Friday, August 14th. Wall Street Zen upgraded Workday from a “hold” rating to a “buy” rating in a research note on Saturday, September 5th. Needham & Company LLC boosted their target price on shares of Workday from $180.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Finally, Citigroup boosted their price target on Workday from $139.00 to $201.00 and gave the company a “neutral” rating in a report on Friday, August 28th. Twenty investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Workday has a consensus rating of “Hold” and an average target price of $206.34.

Institutional Trading of Workday

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Plato Investment Management Ltd acquired a new stake in Workday in the second quarter worth about $1,115,000. Norges Bank acquired a new position in Workday in the 4th quarter worth approximately $448,804,000. S&CO Inc. acquired a new stake in shares of Workday in the second quarter worth $2,284,000. Harvest Fund Management Co. Ltd raised its stake in shares of Workday by 40.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock valued at $11,943,000 after buying an additional 15,903 shares during the last quarter. Finally, Aurora Investment Counsel acquired a new position in Workday in the fourth quarter valued at approximately $2,357,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

About Workday

Workday, Inc develops cloud-based enterprise software designed to help organizations manage finance, human resources and related business operations. Its platform provides tools for financial management, accounting, procurement, expenses, payroll, workforce management, recruiting, talent management, employee experience and enterprise planning.

The company also offers analytics, reporting and artificial intelligence capabilities that support budgeting, forecasting, workforce planning and business decision-making.