Workday (NASDAQ:WDAY) Major Shareholder Sells $13,815,900.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $128.52, for a total value of $13,815,900.00. Following the completion of the transaction, the insider directly owned 105,049 shares in the company, valued at $13,500,897.48. The trade was a 50.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Trading Down 0.9%

Shares of Workday stock traded down $1.20 during trading on Monday, hitting $129.60. 3,493,187 shares of the company were exchanged, compared to its average volume of 5,169,166. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $32.01 billion, a P/E ratio of 40.50, a price-to-earnings-growth ratio of 1.39 and a beta of 1.09. The firm’s fifty day moving average price is $128.10 and its 200 day moving average price is $159.55. Workday, Inc. has a 1-year low of $110.36 and a 1-year high of $249.85.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating 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 net margin of 8.60% and a return on equity of 14.75%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.23 EPS. As a group, sell-side analysts expect that Workday, Inc. will post 5.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WDAY shares. The Goldman Sachs Group dropped their price target on Workday from $206.00 to $151.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 26th. BMO Capital Markets reiterated an “outperform” rating on shares of Workday in a research report on Friday, May 22nd. Weiss Ratings cut Workday from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 20th. Robert W. Baird set a $195.00 price target on shares of Workday in a report on Tuesday, February 24th. Finally, Guggenheim reduced their price objective on shares of Workday from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average target price of $185.03.

Hedge Funds Weigh In On Workday

Institutional investors have recently modified their holdings of the business. Rakuten Securities Inc. purchased a new position in Workday in the second quarter worth $25,000. Measured Wealth Private Client Group LLC bought a new stake in Workday during the 3rd quarter valued at $26,000. DT Investment Partners LLC purchased a new stake in Workday during the 4th quarter worth about $27,000. LRI Investments LLC purchased a new position in Workday during the 4th quarter valued at about $29,000. Finally, JPL Wealth Management LLC bought a new stake in shares of Workday during the third quarter valued at about $30,000. 89.81% of the stock is 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.