Workday (NASDAQ:WDAY) Trading Down 3.7% on Insider Selling

Workday, Inc. (NASDAQ:WDAY) was down 3.7% during trading on Tuesday following insider selling activity. The stock traded as low as $138.01 and last traded at $138.4550. Approximately 418,855 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 5,135,962 shares. The stock had previously closed at $143.76.

Specifically, major shareholder David A. Duffield sold 107,500 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $149.56, for a total value of $16,077,700.00. Following the sale, the insider directly owned 105,049 shares of the company’s stock, valued at $15,711,128.44. This trade represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

WDAY has been the topic of several research reports. Loop Capital set a $210.00 price target on Workday in a report on Thursday, March 12th. Jefferies Financial Group increased their price target on Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Friday, May 22nd. Barclays raised shares of Workday from an “overweight” rating to a “buy” rating in a research report on Friday, May 22nd. BTIG Research reaffirmed a “buy” rating and set a $175.00 price target on shares of Workday in a research note on Monday, May 18th. Finally, DA Davidson set a $135.00 price objective on shares of Workday in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $185.03.

Workday Price Performance

The business’s 50-day moving average price is $127.56 and its 200 day moving average price is $162.04. The company has a market capitalization of $34.07 billion, a P/E ratio of 43.13, a price-to-earnings-growth ratio of 1.52 and a beta of 1.09. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. The company had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.Workday’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.23 earnings per share. Analysts anticipate that Workday, Inc. will post 5.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Workday

A number of large investors have recently made changes to their positions in the business. Rakuten Securities Inc. bought a new stake in shares of Workday in the 2nd quarter worth approximately $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Workday in the 3rd quarter worth $26,000. DT Investment Partners LLC bought a new stake in shares of Workday during the 4th quarter valued at about $27,000. LRI Investments LLC bought a new stake in Workday during the fourth quarter valued at approximately $29,000. Finally, JPL Wealth Management LLC purchased a new stake in shares of Workday in the 3rd quarter worth $30,000. 89.81% of the stock is currently owned by institutional investors.

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.