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

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $132.58, for a total transaction of $14,252,350.00. Following the completion of the sale, the insider directly owned 105,049 shares of the company’s stock, valued at $13,927,396.42. The trade was a 50.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Performance

Shares of WDAY stock opened at $135.96 on Friday. The firm has a market cap of $34.94 billion, a price-to-earnings ratio of 52.70, a PEG ratio of 1.32 and a beta of 1.16. The company’s 50 day moving average is $157.12 and its 200 day moving average is $202.64. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38. Workday, Inc. has a 52-week low of $117.76 and a 52-week high of $276.00.

Workday (NASDAQ:WDAY) last posted 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 company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. Workday had a return on equity of 13.37% and a net margin of 7.26%.Workday’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.92 earnings per share. On average, sell-side analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Workday

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WDAY. Rakuten Securities Inc. purchased a new stake in shares of Workday during the second quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new stake in Workday in the 3rd quarter worth approximately $26,000. DT Investment Partners LLC acquired a new stake in Workday in the 4th quarter worth approximately $27,000. LRI Investments LLC purchased a new stake in Workday during the 4th quarter worth approximately $29,000. Finally, JPL Wealth Management LLC acquired a new position in Workday during the 3rd quarter valued at approximately $30,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Piper Sandler dropped their price objective on Workday from $200.00 to $135.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Mizuho reduced their target price on shares of Workday from $275.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Oppenheimer decreased their price target on shares of Workday from $200.00 to $165.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Needham & Company LLC restated a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Wednesday, February 25th. Finally, Loop Capital set a $210.00 price objective on shares of Workday in a research report on Thursday, March 12th. 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $199.71.

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.