Insider Selling: Workday (NASDAQ:WDAY) Major Shareholder Sells 80,279 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 80,279 shares of Workday stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $215.04, for a total value of $17,263,196.16. Following the completion of the sale, the insider directly owned 105,049 shares of the company’s stock, valued at $22,589,736.96. The trade was a 43.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Workday Price Performance

Shares of NASDAQ:WDAY traded down $1.71 during trading on Monday, hitting $218.99. 1,607,377 shares of the company’s stock were exchanged, compared to its average volume of 2,637,688. The business’s 50-day simple moving average is $225.39 and its 200 day simple moving average is $230.37. The company has a market cap of $57.59 billion, a price-to-earnings ratio of 92.01, a PEG ratio of 2.49 and a beta of 1.15. Workday, Inc. has a 52-week low of $205.33 and a 52-week high of $283.68. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.15. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.42 billion. Workday had a return on equity of 10.50% and a net margin of 6.95%.The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.89 EPS. As a group, equities analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Institutional Investors Weigh In On Workday

Several institutional investors have recently modified their holdings of WDAY. Rakuten Securities Inc. purchased a new position in Workday during the 2nd quarter worth $25,000. Measured Wealth Private Client Group LLC bought a new position in shares of Workday during the 3rd quarter worth $26,000. JPL Wealth Management LLC purchased a new position in shares of Workday during the third quarter valued at $30,000. Berbice Capital Management LLC raised its holdings in shares of Workday by 136.4% in the second quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock valued at $31,000 after acquiring an additional 75 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in Workday by 2,216.7% in the second quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock worth $33,000 after acquiring an additional 133 shares during the period. 89.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on WDAY. JPMorgan Chase & Co. decreased their price target on shares of Workday from $290.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Guggenheim reaffirmed a “buy” rating and issued a $285.00 target price on shares of Workday in a report on Wednesday, November 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Workday in a research note on Wednesday, October 8th. Zacks Research cut Workday from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Workday in a research note on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $282.22.

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.