Workday (NASDAQ:WDAY) Major Shareholder Sells $12,281,875.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of Workday stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $114.25, for a total transaction of $12,281,875.00. Following the transaction, the insider owned 105,049 shares in the company, valued at approximately $12,001,848.25. The trade was a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Workday Stock Up 2.6%

NASDAQ:WDAY traded up $2.97 during trading hours on Wednesday, hitting $118.10. 3,271,664 shares of the stock traded hands, compared to its average volume of 5,218,673. The firm has a 50 day moving average price of $127.58 and a 200 day moving average price of $154.75. The firm has a market cap of $29.17 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 1.21 and a beta of 1.09. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

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

Analyst Ratings Changes

WDAY has been the topic of several research analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $216.00 target price on shares of Workday in a research note on Friday, May 22nd. Jefferies Financial Group increased their price target on shares of Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, May 22nd. William Blair upgraded shares of Workday to a “strong-buy” rating in a report on Friday, May 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Workday from $270.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 24th. Finally, Citigroup reiterated a “market perform” rating on shares of Workday in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus target price of $185.03.

Institutional Investors Weigh In On Workday

Several large investors have recently made changes to their positions in WDAY. Rakuten Securities Inc. bought a new position in Workday during the second quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC bought a new stake in Workday in the third quarter worth approximately $26,000. JPL Wealth Management LLC acquired a new position in shares of Workday during the 3rd quarter worth $30,000. DT Investment Partners LLC acquired a new position in shares of Workday during the 4th quarter worth $27,000. Finally, LRI Investments LLC bought a new position in shares of Workday during the 4th quarter valued at $29,000. Institutional investors own 89.81% of the company’s stock.

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.