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

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of Workday stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $129.76, for a total value of $13,949,200.00. Following the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $13,631,158.24. The trade was a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 transactions with the SEC.

Workday Price Performance

Shares of NASDAQ WDAY opened at $132.26 on Friday. Workday, Inc. has a twelve month low of $117.76 and a twelve month high of $276.00. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $33.99 billion, a price-to-earnings ratio of 51.26, a PEG ratio of 1.25 and a beta of 1.14. The firm has a 50-day moving average of $145.99 and a two-hundred day moving average of $196.59.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data 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. Workday had a net margin of 7.26% and a return on equity of 13.37%. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the company posted $1.92 EPS. The business’s revenue was up 14.5% compared to the same quarter last year. As a group, analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on WDAY. Barclays dropped their price target on Workday from $230.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of Workday in a report on Monday, February 23rd. TD Cowen cut Workday from a “buy” rating to a “hold” rating and set a $155.00 target price on the stock. in a report on Wednesday, February 25th. Oppenheimer cut their target price on Workday from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Finally, Evercore lowered Workday from an “outperform” rating to an “in-line” rating and set a $160.00 price target for the company. in a research report on Wednesday, February 25th. Nineteen equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and an average target price of $199.71.

Institutional Trading of Workday

A number of hedge funds have recently modified their holdings of WDAY. Brighton Jones LLC boosted its position in shares of Workday by 230.2% in the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after buying an additional 2,792 shares during the period. Empowered Funds LLC boosted its position in Workday by 12.1% during the 1st quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock worth $2,602,000 after acquiring an additional 1,206 shares during the period. Geneos Wealth Management Inc. boosted its position in Workday by 211.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after acquiring an additional 127 shares during the period. Sivia Capital Partners LLC purchased a new position in Workday during the 2nd quarter valued at about $281,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of Workday by 119.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,056 shares of the software maker’s stock valued at $493,000 after purchasing an additional 1,117 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

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.