Workday (NASDAQ:WDAY) Major Shareholder David Duffield Sells 96,545 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 96,545 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $192.28, for a total value of $18,563,672.60. Following the completion of the sale, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $20,198,821.72. This represents a 47.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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

NASDAQ WDAY traded up $11.45 on Thursday, reaching $199.21. 4,249,348 shares of the company’s stock traded hands, compared to its average volume of 4,951,570. The stock has a market cap of $48.01 billion, a PE ratio of 40.41, a P/E/G ratio of 1.92 and a beta of 1.08. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $249.85. The stock has a 50-day simple moving average of $174.91 and a 200 day simple moving average of $145.53. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91.

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

Institutional Trading of Workday

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Auto Owners Insurance Co raised its holdings in Workday by 25,412.8% in the 4th quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock worth $2,197,332,000 after purchasing an additional 10,190,516 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Workday by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker’s stock valued at $1,089,970,000 after purchasing an additional 75,922 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Workday by 101.4% during the 4th quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker’s stock valued at $1,077,537,000 after purchasing an additional 2,525,821 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Workday by 8.7% during the first quarter. Pictet Asset Management Holding SA now owns 2,803,568 shares of the software maker’s stock valued at $364,217,000 after buying an additional 223,493 shares during the period. Finally, Norges Bank purchased a new position in shares of Workday during the fourth quarter valued at about $448,804,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Stifel Nicolaus raised their price objective on Workday from $115.00 to $160.00 and gave the company a “hold” rating in a research note on Friday, August 28th. The Goldman Sachs Group boosted their target price on Workday from $151.00 to $164.00 and gave the company a “neutral” rating in a research note on Monday, August 31st. Morgan Stanley increased their target price on Workday from $145.00 to $180.00 and gave the company an “underweight” rating in a report on Friday, August 28th. Oppenheimer raised their price target on Workday from $165.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, August 24th. Finally, DA Davidson lifted their price target on Workday from $135.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, August 28th. Twenty equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Workday presently has a consensus rating of “Hold” and an average target price of $206.34.

Workday Company Profile

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.