Insider Selling: Workday (NASDAQ:WDAY) Major Shareholder Sells $13,119,300.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $122.04, for a total transaction of $13,119,300.00. Following the completion of the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at $12,820,179.96. This trade represents a 50.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Performance

Shares of Workday stock opened at $135.40 on Friday. The firm has a market capitalization of $33.44 billion, a PE ratio of 42.31, a price-to-earnings-growth ratio of 1.45 and a beta of 1.11. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average is $127.76 and its 200 day moving average is $149.84. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85.

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

Institutional Trading of Workday

Institutional investors have recently modified their holdings of the business. Rakuten Securities Inc. acquired a new position in Workday during the 2nd quarter worth about $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Workday in the 3rd quarter valued at about $26,000. JPL Wealth Management LLC bought a new stake in shares of Workday in the 3rd quarter valued at about $30,000. DT Investment Partners LLC acquired a new stake in shares of Workday in the fourth quarter valued at about $27,000. Finally, LRI Investments LLC acquired a new stake in shares of Workday in the fourth quarter valued at about $29,000. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Sanford C. Bernstein reissued an “outperform” rating and set a $216.00 price objective on shares of Workday in a report on Friday, May 22nd. Jefferies Financial Group upped their target price on Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Friday, May 22nd. Summit Redstone set a $275.00 target price on Workday in a research report on Wednesday, May 27th. BTIG Research reiterated a “buy” rating and issued a $175.00 target price on shares of Workday in a research report on Monday, May 18th. Finally, Wells Fargo & Company lifted their price target on Workday from $180.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $184.00.

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.