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

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $114.25, for a total value of $12,281,875.00. Following the sale, the insider directly owned 105,049 shares in the company, valued at approximately $12,001,848.25. The trade was a 50.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Performance

Shares of Workday stock opened at $118.10 on Thursday. The company has a market capitalization of $29.17 billion, a PE ratio of 36.91, a P/E/G ratio of 1.23 and a beta of 1.09. The company has a 50-day simple moving average of $127.54 and a two-hundred day simple moving average of $154.06. Workday, Inc. has a one year low of $110.36 and a one year high of $249.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company’s revenue was up 13.5% compared to the same quarter last year. During the same period last year, the business earned $2.23 EPS. Research analysts expect that Workday, Inc. will post 5.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Workday

Several hedge funds and other institutional investors have recently bought and sold shares of WDAY. First Eagle Investment Management LLC purchased a new stake in Workday in the 3rd quarter worth approximately $556,252,000. Norges Bank purchased a new position in shares of Workday during the 4th quarter valued at approximately $448,804,000. Harvest Fund Management Co. Ltd increased its holdings in shares of Workday by 40.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock valued at $11,943,000 after purchasing an additional 15,903 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Workday by 18.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock valued at $122,804,000 after purchasing an additional 88,384 shares during the period. Finally, Morningstar Investment Management LLC boosted its holdings in Workday by 127.2% during the fourth quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock worth $5,808,000 after buying an additional 15,138 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Citigroup reaffirmed a “market perform” rating on shares of Workday in a research report on Friday, May 22nd. Guggenheim lowered their price objective on Workday from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. DA Davidson set a $135.00 target price on Workday in a research report on Tuesday, May 26th. UBS Group upped their target price on Workday from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, May 22nd. Finally, The Goldman Sachs Group decreased their price target on Workday from $206.00 to $151.00 and set a “neutral” rating for the company in a research note 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 issued a Sell rating to the company. According to data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.03.

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.