Insider Selling: Workday (NASDAQ:WDAY) Major Shareholder 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 that occurred on Monday, July 6th. The shares were sold at an average price of $135.24, for a total value of $14,538,300.00. Following the completion of the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at $14,206,826.76. This represents a 50.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Trading Up 4.1%

NASDAQ WDAY traded up $5.66 during trading hours on Tuesday, reaching $143.65. The company’s stock had a trading volume of 5,902,128 shares, compared to its average volume of 5,196,063. The firm has a fifty day simple moving average of $127.76 and a 200-day simple moving average of $149.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85. The stock has a market cap of $35.48 billion, a P/E ratio of 44.89, a P/E/G ratio of 1.45 and a beta of 1.11.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company’s revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.23 EPS. Equities analysts forecast that Workday, Inc. will post 5.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Workday

Institutional investors and hedge funds have recently made changes to their positions in the business. Rakuten Securities Inc. bought a new stake in Workday during the 2nd quarter valued at $25,000. Measured Wealth Private Client Group LLC bought a new position in shares of Workday in the third quarter valued at $26,000. JPL Wealth Management LLC acquired a new position in shares of Workday during the third quarter valued at about $30,000. DT Investment Partners LLC bought a new stake in shares of Workday during the fourth quarter worth about $27,000. Finally, LRI Investments LLC acquired a new stake in shares of Workday in the 4th quarter worth about $29,000. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of several analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $216.00 target price on shares of Workday in a research report on Friday, May 22nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Workday in a research report on Wednesday, June 17th. Weiss Ratings reissued a “sell (d+)” rating on shares of Workday in a research note on Wednesday, June 17th. Monness Crespi & Hardt upgraded Workday from a “neutral” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Thursday, June 25th. Finally, Barclays upgraded Workday from an “overweight” rating to a “buy” rating in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.00.

Workday Company Profile

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.