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

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of Workday stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $135.24, for a total transaction of $14,538,300.00. Following the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $14,206,826.76. This represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 sales and purchases with the SEC.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $143.65 on Wednesday. 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, Inc. has a 12 month low of $110.36 and a 12 month high of $249.85. The company has a market capitalization of $35.48 billion, a price-to-earnings ratio of 44.89, a PEG ratio of 1.48 and a beta of 1.11. The firm’s 50-day moving average is $128.70 and its 200 day moving average is $148.32.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share (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 the consensus estimate of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.23 earnings per share. Research analysts predict that Workday, Inc. will post 5.34 EPS for the current year.

Wall Street Analysts Forecast Growth

WDAY has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on Workday from $180.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Wall Street Zen raised shares of Workday from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Monness Crespi & Hardt upgraded shares of Workday from a “neutral” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Thursday, June 25th. Bank of America started coverage on shares of Workday in a research note on Wednesday, May 27th. They issued a “neutral” rating and a $140.00 price target on the stock. Finally, Citigroup reiterated a “market perform” rating on shares of Workday in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus price target of $184.00.

Institutional Trading of Workday

Several institutional investors and hedge funds have recently made changes to their positions in the company. Auto Owners Insurance Co lifted its holdings in Workday by 25,412.8% during the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock worth $2,197,332,000 after buying an additional 10,190,516 shares during the period. Vanguard Group Inc. increased its holdings in shares of Workday by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock valued at $5,371,495,000 after acquiring an additional 3,210,232 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Workday by 101.4% in the 4th quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker’s stock valued at $1,077,537,000 after acquiring an additional 2,525,821 shares during the period. Norges Bank bought a new position in shares of Workday in the 4th quarter worth $448,804,000. Finally, First Eagle Investment Management LLC raised its position in shares of Workday by 87.8% in the 4th quarter. First Eagle Investment Management LLC now owns 4,338,773 shares of the software maker’s stock worth $931,882,000 after acquiring an additional 2,028,085 shares in the last quarter. 89.81% of the stock is currently 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.