Insider Selling: Workday (NASDAQ:WDAY) Major Shareholder Sells 107,500 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $147.16, for a total transaction of $15,819,700.00. Following the completion of the sale, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $15,459,010.84. This trade represents a 50.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Workday Stock Performance

Shares of WDAY stock traded down $2.90 during mid-day trading on Monday, hitting $148.14. 5,459,975 shares of the stock were exchanged, compared to its average volume of 5,283,062. The stock’s fifty day simple moving average is $172.17 and its two-hundred day simple moving average is $208.84. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.83 and a current ratio of 1.32. Workday, Inc. has a 12-month low of $117.76 and a 12-month high of $276.00. The stock has a market capitalization of $38.96 billion, a price-to-earnings ratio of 57.42, a P/E/G ratio of 1.47 and a beta of 1.17.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.15. The business had revenue of $2.53 billion during 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 business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.92 EPS. On average, analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on WDAY. DA Davidson reduced their price target on shares of Workday from $250.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. The Goldman Sachs Group dropped their price target on Workday from $238.00 to $206.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Evercore lowered Workday from an “outperform” rating to an “in-line” rating and set a $160.00 target price on the stock. in a report on Wednesday, February 25th. Wall Street Zen downgraded Workday from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Morgan Stanley dropped their price objective on shares of Workday from $280.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Monday, February 23rd. Twenty investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.19.

Institutional Investors Weigh In On Workday

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Eagle Investment Management LLC acquired a new position in shares of Workday in the third quarter worth $556,252,000. PKO Investment Management Joint Stock Co acquired a new stake in shares of Workday during the third quarter valued at $1,805,000. Phoenix Financial Ltd. acquired a new stake in shares of Workday during the third quarter valued at $2,000,000. Rakuten Investment Management Inc. purchased a new stake in Workday during the 3rd quarter worth about $124,718,000. Finally, Norges Bank acquired a new position in Workday in the 2nd quarter valued at about $442,702,000. Institutional investors and hedge funds 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.