Workday (NASDAQ:WDAY) Major Shareholder David Duffield Sells 96,545 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 96,545 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $192.28, for a total transaction of $18,563,672.60. Following the completion of the transaction, the insider owned 105,049 shares in the company, valued at approximately $20,198,821.72. The trade was a 47.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major 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 Workday stock opened at $199.28 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $176.13 and a two-hundred day moving average price of $146.00. Workday, Inc. has a 1-year low of $110.36 and a 1-year high of $249.85. The company has a market cap of $48.03 billion, a P/E ratio of 40.42, a PEG ratio of 1.89 and a beta of 1.08.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $0.14. Workday had a return on equity of 20.95% and a net margin of 12.32%.The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the previous year, the business earned $2.21 EPS. The firm’s revenue was up 12.8% compared to the same quarter last year. As a group, analysts anticipate that Workday, Inc. will post 5.3 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on WDAY shares. Dbs Bank upgraded Workday to a “hold” rating in a report on Wednesday, September 9th. Monness Crespi & Hardt lifted their price objective on shares of Workday from $202.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, August 28th. The Goldman Sachs Group boosted their target price on shares of Workday from $151.00 to $164.00 and gave the company a “neutral” rating in a research report on Monday, August 31st. TD Cowen cut their target price on shares of Workday from $220.00 to $210.00 and set a “hold” rating on the stock in a research note on Friday, August 28th. Finally, BTIG Research cut shares of Workday from a “buy” rating to a “neutral” rating in a report on Monday, August 17th. Twenty analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $206.34.

Institutional Investors Weigh In On Workday

Hedge funds and other institutional investors have recently modified their holdings of the company. Plato Investment Management Ltd bought a new position in Workday in the 2nd quarter valued at $1,115,000. Norges Bank purchased a new stake in shares of Workday during the 4th quarter valued at $448,804,000. S&CO Inc. bought a new stake in shares of Workday during the 2nd quarter worth $2,284,000. Harvest Fund Management Co. Ltd raised its stake in shares of Workday by 40.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock worth $11,943,000 after purchasing an additional 15,903 shares during the period. Finally, Aurora Investment Counsel purchased a new position in shares of Workday in the 4th quarter worth about $2,357,000. Institutional investors own 89.81% of the company’s stock.

Workday Company Profile

Workday, Inc develops cloud-based enterprise software designed to help organizations manage finance, human resources and related business operations. Its platform provides tools for financial management, accounting, procurement, expenses, payroll, workforce management, recruiting, talent management, employee experience and enterprise planning.

The company also offers analytics, reporting and artificial intelligence capabilities that support budgeting, forecasting, workforce planning and business decision-making.