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 stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $136.82, for a total transaction of $14,708,150.00. Following the completion of the sale, the insider directly owned 105,049 shares of the company’s stock, valued at $14,372,804.18. This trade represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 opened at $127.97 on Friday. The company’s 50 day moving average price is $151.67 and its 200 day moving average price is $200.02. Workday, Inc. has a 52 week low of $117.76 and a 52 week high of $276.00. The company has a market capitalization of $32.89 billion, a PE ratio of 49.60, a PEG ratio of 1.23 and a beta of 1.16. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) 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 the consensus estimate 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 in the prior year, the firm earned $1.92 EPS. Research analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Workday

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised 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 buying an additional 3,210,232 shares in the last quarter. Auto Owners Insurance Co boosted its stake in shares of Workday by 25,412.8% during 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 in the last quarter. State Street Corp boosted its stake in shares of Workday by 1.0% during the 4th quarter. State Street Corp now owns 9,770,707 shares of the software maker’s stock worth $2,098,552,000 after acquiring an additional 96,139 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Workday by 47.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock valued at $1,406,463,000 after acquiring an additional 1,882,391 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Workday by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker’s stock valued at $1,089,970,000 after acquiring an additional 75,922 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WDAY. Robert W. Baird set a $195.00 price objective on Workday in a report on Tuesday, February 24th. Rosenblatt Securities dropped their target price on Workday from $180.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price target on shares of Workday in a research note on Wednesday, February 25th. DA Davidson reduced their price target on Workday from $250.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Finally, Jefferies Financial Group cut Workday from a “buy” rating to a “hold” rating and lowered their price target for the company from $325.00 to $150.00 in a research note on Monday, February 23rd. Nineteen equities 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.