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

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the business’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $112.33, for a total transaction of $12,075,475.00. Following the transaction, the insider owned 105,049 shares in the company, valued at approximately $11,800,154.17. This trade represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Trading Up 6.6%

NASDAQ:WDAY opened at $119.92 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $30.82 billion, a price-to-earnings ratio of 46.48, a price-to-earnings-growth ratio of 1.09 and a beta of 1.14. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $276.00. The firm has a 50-day moving average price of $137.44 and a two-hundred day moving average price of $190.50.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WDAY. Needham & Company LLC restated a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Wednesday, February 25th. DA Davidson cut their price target on shares of Workday from $250.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Robert W. Baird set a $195.00 price target on shares of Workday in a research report on Tuesday, February 24th. UBS Group decreased their price objective on shares of Workday from $170.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Finally, Oppenheimer lowered their price objective on shares of Workday from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Nineteen research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $199.71.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Auto Owners Insurance Co increased 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 acquiring an additional 10,190,516 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Workday by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock valued at $5,371,495,000 after purchasing an additional 3,210,232 shares during the last quarter. Janus Henderson Group PLC boosted its position in Workday by 101.4% during the fourth quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker’s stock worth $1,077,537,000 after purchasing an additional 2,525,821 shares during the period. First Eagle Investment Management LLC bought a new position in Workday during the third quarter worth about $556,252,000. Finally, Norges Bank purchased a new position in shares of Workday in the fourth quarter worth about $448,804,000. Hedge funds and other institutional investors 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.