Insider Selling: Workday (NASDAQ:WDAY) Major Shareholder Sells $12,427,000.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of Workday stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $115.60, for a total transaction of $12,427,000.00. Following the completion of the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $12,143,664.40. The trade was a 50.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Stock Down 0.5%

WDAY traded down $0.63 during trading on Monday, hitting $123.58. The stock had a trading volume of 3,695,230 shares, compared to its average volume of 5,238,581. The stock has a 50 day simple moving average of $127.46 and a two-hundred day simple moving average of $152.63. 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, Inc. has a twelve month low of $110.36 and a twelve month high of $249.85. The company has a market capitalization of $30.52 billion, a PE ratio of 38.62, a PEG ratio of 1.33 and a beta of 1.09.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter last year, the firm earned $2.23 EPS. The business’s quarterly revenue was up 13.5% on a year-over-year basis. On average, research analysts predict that Workday, Inc. will post 5.34 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on WDAY shares. Wolfe Research reissued an “outperform” rating and set a $160.00 target price on shares of Workday in a research report on Friday, May 22nd. Oppenheimer reiterated an “outperform” rating on shares of Workday in a research note on Thursday, June 11th. Piper Sandler upped their target price on Workday from $135.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, May 22nd. Monness Crespi & Hardt upgraded Workday from a “neutral” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Thursday. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Workday in a report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $184.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WDAY. Finivi Inc. increased its holdings in shares of Workday by 3.3% during the 3rd quarter. Finivi Inc. now owns 1,516 shares of the software maker’s stock valued at $365,000 after purchasing an additional 48 shares in the last quarter. Strategic Investment Advisors MI grew its position in shares of Workday by 1.6% during the 2nd quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker’s stock valued at $777,000 after acquiring an additional 50 shares during the period. Sagespring Wealth Partners LLC grew its position in shares of Workday by 3.0% during the 4th quarter. Sagespring Wealth Partners LLC now owns 2,052 shares of the software maker’s stock valued at $441,000 after acquiring an additional 59 shares during the period. CVA Family Office LLC increased its stake in shares of Workday by 35.3% in the 4th quarter. CVA Family Office LLC now owns 249 shares of the software maker’s stock valued at $53,000 after purchasing an additional 65 shares in the last quarter. Finally, Aspire Private Capital LLC increased its stake in shares of Workday by 1.3% in the 4th quarter. Aspire Private Capital LLC now owns 5,560 shares of the software maker’s stock valued at $1,194,000 after purchasing an additional 71 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

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.