Workday (NASDAQ:WDAY) Major Shareholder Sells $14,262,025.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $132.67, for a total value of $14,262,025.00. Following the transaction, the insider owned 105,049 shares of the company’s stock, valued at $13,936,850.83. 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 can be accessed through this hyperlink. Large 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

Workday stock opened at $133.38 on Friday. The stock’s 50 day moving average is $158.55 and its 200 day moving average is $203.48. Workday, Inc. has a one year low of $117.76 and a one year high of $276.00. The firm has a market cap of $34.28 billion, a P/E ratio of 51.70, a P/E/G ratio of 1.28 and a beta of 1.16. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.15. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 7.26% and a return on equity of 13.37%. The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.92 EPS. As a group, research analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WDAY shares. TD Cowen downgraded shares of Workday from a “buy” rating to a “hold” rating and set a $155.00 target price for the company. in a research note on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft decreased their price target on Workday from $265.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Macquarie Infrastructure reissued a “buy” rating on shares of Workday in a research report on Wednesday, November 26th. Loop Capital set a $210.00 price objective on Workday in a research note on Thursday, March 12th. Finally, Citigroup cut their target price on Workday from $247.00 to $148.00 and set a “neutral” rating on the stock in a research report on Thursday, February 26th. Nineteen investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $199.71.

Institutional Investors Weigh In On Workday

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Stance Capital LLC boosted its position in shares of Workday by 3.7% during the 4th quarter. Stance Capital LLC now owns 6,238 shares of the software maker’s stock worth $1,340,000 after purchasing an additional 223 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in Workday by 12.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 178,827 shares of the software maker’s stock valued at $38,408,000 after buying an additional 20,016 shares in the last quarter. Meadowbrook Advisors Group LLC bought a new stake in Workday in the 4th quarter valued at about $320,000. Larry Mathis Financial Planning LLC acquired a new position in Workday during the 4th quarter worth approximately $216,000. Finally, Green Ridge Wealth Planning LLC acquired a new position in Workday during the 4th quarter worth approximately $237,000. 89.81% of the stock is 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.