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 that occurred on Monday, March 23rd. The shares were sold at an average price of $136.82, for a total transaction of $14,708,150.00. Following the sale, the insider owned 105,049 shares in the company, valued at $14,372,804.18. This represents a 50.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Trading Down 1.7%

Workday stock traded down $2.22 during midday trading on Wednesday, reaching $127.07. The stock had a trading volume of 5,292,016 shares, compared to its average volume of 5,223,161. Workday, Inc. has a twelve month low of $117.76 and a twelve month high of $276.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market cap of $32.66 billion, a price-to-earnings ratio of 49.25, a PEG ratio of 1.33 and a beta of 1.16. The firm’s fifty day simple moving average is $154.30 and its two-hundred day simple moving average is $201.04.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $2.52 billion. During the same period in the previous year, the business earned $1.92 EPS. The company’s revenue was up 14.5% on a year-over-year basis. Equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on WDAY shares. Morgan Stanley reduced their price objective on Workday from $280.00 to $200.00 and set an “equal weight” rating for the company in a research report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft cut their price target on Workday from $265.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Barclays reduced their price target on Workday from $230.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. BTIG Research dropped their price objective on Workday from $230.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Finally, TD Cowen lowered shares of Workday from a “buy” rating to a “hold” rating and set a $155.00 price objective on the stock. in a research report on Wednesday, February 25th. Nineteen equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.71.

Institutional Trading of Workday

A number of institutional investors and hedge funds have recently made changes to their positions in WDAY. First Eagle Investment Management LLC acquired a new stake in shares of Workday in the third quarter worth $556,252,000. PKO Investment Management Joint Stock Co acquired a new position in Workday during the 3rd quarter valued at $1,805,000. Phoenix Financial Ltd. acquired a new position in Workday during the 3rd quarter valued at $2,000,000. Rakuten Investment Management Inc. bought a new stake in Workday in the 3rd quarter valued at $124,718,000. Finally, Norges Bank bought a new stake in Workday in the 2nd quarter valued at $442,702,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.