Workday (NASDAQ:WDAY) Major Shareholder Sells 99,228 Shares of Company Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 99,228 shares of the stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $187.32, for a total transaction of $18,587,388.96. Following the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at $19,677,778.68. The trade was a 48.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Trading Down 1.2%

NASDAQ:WDAY traded down $2.29 during trading hours on Wednesday, reaching $184.26. 1,519,068 shares of the stock were exchanged, compared to its average volume of 4,756,008. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $247.40. The business has a 50-day moving average of $188.46 and a two-hundred day moving average of $150.56. The company has a market capitalization of $44.41 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 1.89 and a beta of 1.07. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.14. Workday had a return on equity of 20.95% and a net margin of 12.32%.The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the company earned $2.21 EPS. Workday’s revenue was up 12.8% on a year-over-year basis. On average, equities analysts predict that Workday, Inc. will post 5.33 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on WDAY shares. Wells Fargo & Company upped their target price on shares of Workday from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, August 28th. Guggenheim restated a “buy” rating and issued a $275.00 price target on shares of Workday in a research note on Friday, August 21st. Lake Street Capital set a $205.00 price objective on Workday in a research report on Friday, August 14th. BTIG Research cut Workday from a “buy” rating to a “neutral” rating in a research note on Monday, August 17th. Finally, Canaccord Genuity Group lifted their target price on Workday from $200.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. Twenty equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Workday currently has an average rating of “Hold” and a consensus price target of $206.34.

Institutional Trading of Workday

A number of institutional investors have recently bought and sold shares of the business. Western Wealth Management LLC purchased a new position in shares of Workday in the 1st quarter valued at about $39,000. Manning & Napier Advisors LLC purchased a new position in Workday in the second quarter valued at approximately $42,000. Elevation Wealth Partners LLC increased its stake in Workday by 1,097.0% in the second quarter. Elevation Wealth Partners LLC now owns 395 shares of the software maker’s stock valued at $48,000 after purchasing an additional 362 shares during the last quarter. Reflection Asset Management acquired a new stake in Workday during the fourth quarter worth approximately $66,000. Finally, Parkside Financial Bank & Trust raised its holdings in Workday by 26.3% during the second quarter. Parkside Financial Bank & Trust now owns 591 shares of the software maker’s stock worth $72,000 after purchasing an additional 123 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Company Profile

Workday, Inc develops cloud-based enterprise software for managing an organization’s people, finances and operations. Its platform is primarily used by businesses, government agencies and educational institutions to support human resources, finance, planning, analytics and related administrative processes.

The company’s offerings include Workday Human Capital Management, Financial Management, Adaptive Planning, Spend Management, payroll, recruiting, talent management, learning and workforce analytics.