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

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the business’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $136.74, for a total value of $14,699,550.00. Following the sale, the insider owned 105,049 shares in the company, valued at approximately $14,364,400.26. 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 through 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 shares are required to disclose their sales and purchases with the SEC.

Workday Price Performance

Workday stock traded up $5.94 during trading hours on Monday, hitting $144.89. The stock had a trading volume of 3,249,617 shares, compared to its average volume of 5,159,738. Workday, Inc. has a 1-year low of $110.36 and a 1-year high of $249.85. The stock has a market capitalization of $35.79 billion, a price-to-earnings ratio of 45.28, a PEG ratio of 1.49 and a beta of 1.11. The stock’s fifty day moving average is $129.78 and its two-hundred day moving average is $146.63. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01.

Workday (NASDAQ:WDAY) last released its quarterly earnings results 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. Workday had a return on equity of 14.75% and a net margin of 8.60%.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 previous year, the company posted $2.23 EPS. The business’s revenue was up 13.5% on a year-over-year basis. As a group, analysts predict that Workday, Inc. will post 5.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WDAY. Wells Fargo & Company upped their price target on shares of Workday from $180.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. BTIG Research reissued a “buy” rating and set a $175.00 price objective on shares of Workday in a research note on Monday, May 18th. BMO Capital Markets reiterated an “outperform” rating on shares of Workday in a report on Friday, May 22nd. Sanford C. Bernstein reissued an “outperform” rating and issued a $216.00 price target on shares of Workday in a report on Friday, May 22nd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Workday in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus target price of $184.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WDAY. Auto Owners Insurance Co boosted its holdings in shares of 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 purchasing an additional 10,190,516 shares during the last quarter. Vanguard Group Inc. lifted its position in Workday by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock worth $5,371,495,000 after buying an additional 3,210,232 shares during the period. Janus Henderson Group PLC lifted its position in Workday by 101.4% during the fourth quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker’s stock worth $1,077,537,000 after buying an additional 2,525,821 shares during the period. Norges Bank acquired a new stake in Workday in the 4th quarter worth about $448,804,000. Finally, First Eagle Investment Management LLC boosted its stake in 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 buying an additional 2,028,085 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.