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

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $138.32, for a total value of $14,869,400.00. Following the completion of the sale, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $14,530,377.68. This trade represents a 50.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 Price Performance

NASDAQ WDAY opened at $130.53 on Friday. The business has a 50 day simple moving average of $128.07 and a 200 day simple moving average of $160.22. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $253.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $32.24 billion, a price-to-earnings ratio of 40.79, a PEG ratio of 1.46 and a beta of 1.09.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the business earned $2.23 EPS. Workday’s revenue for the quarter was up 13.5% compared to the same quarter last year. Analysts anticipate that Workday, Inc. will post 5.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wolfe Research reissued an “outperform” rating and set a $160.00 target price on shares of Workday in a research note on Friday, May 22nd. Weiss Ratings cut Workday from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 20th. Wall Street Zen raised Workday from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. TD Cowen reissued a “hold” rating on shares of Workday in a research note on Friday, May 22nd. Finally, HC Wainwright set a $140.00 target price on Workday in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $185.03.

Hedge Funds Weigh In On Workday

A number of large investors have recently bought and sold shares of WDAY. First Eagle Investment Management LLC acquired a new stake in shares of Workday in the 3rd quarter valued at approximately $556,252,000. Norges Bank acquired a new stake in shares of Workday in the 4th quarter valued at approximately $448,804,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Workday by 18.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock valued at $122,804,000 after buying an additional 88,384 shares during the last quarter. Morningstar Investment Management LLC boosted its holdings in shares of Workday by 127.2% in the 4th quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock valued at $5,808,000 after buying an additional 15,138 shares during the last quarter. Finally, Sienna Gestion acquired a new stake in shares of Workday in the 3rd quarter valued at approximately $7,948,000. Institutional investors and hedge funds 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.