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

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the business’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $129.76, for a total transaction of $13,949,200.00. Following the sale, the insider owned 105,049 shares in the company, valued at $13,631,158.24. This trade represents a 50.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Stock Up 2.5%

Shares of Workday stock traded up $3.21 on Thursday, reaching $132.26. 2,986,976 shares of the company were exchanged, compared to its average volume of 5,093,461. The stock’s 50 day moving average price is $147.10 and its 200-day moving average price is $197.04. The company has a market cap of $33.99 billion, a P/E ratio of 51.26, a price-to-earnings-growth ratio of 1.26 and a beta of 1.14. Workday, Inc. has a 1-year low of $117.76 and a 1-year high of $276.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.15. Workday had a return on equity of 13.37% and a net margin of 7.26%.The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the business earned $1.92 EPS. Workday’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on WDAY shares. Raymond James Financial reaffirmed a “market perform” rating on shares of Workday in a report on Monday, February 9th. Mizuho decreased their price target on Workday from $275.00 to $210.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Evercore lowered Workday from an “outperform” rating to an “in-line” rating and set a $160.00 price target for the company. in a research note on Wednesday, February 25th. Weiss Ratings downgraded shares of Workday from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 20th. Finally, KeyCorp lowered their price objective on shares of Workday from $260.00 to $155.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Nineteen analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.71.

Institutional Trading of Workday

Hedge funds and other institutional investors have recently modified their holdings of the company. Brighton Jones LLC increased its stake in Workday by 230.2% in the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after purchasing an additional 2,792 shares in the last quarter. Empowered Funds LLC grew its position in Workday by 12.1% in the first quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock worth $2,602,000 after acquiring an additional 1,206 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Workday by 211.7% during the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after buying an additional 127 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Workday in the 2nd quarter valued at approximately $281,000. Finally, Advisors Asset Management Inc. raised its position in shares of Workday by 119.0% in the second quarter. Advisors Asset Management Inc. now owns 2,056 shares of the software maker’s stock valued at $493,000 after purchasing an additional 1,117 shares during the period. Institutional investors own 89.81% of the company’s stock.

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.