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

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $142.18, for a total value of $15,284,350.00. Following the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $14,935,866.82. This represents a 50.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Workday Trading Down 2.1%

Shares of WDAY stock traded down $2.84 on Friday, reaching $131.30. 1,462,405 shares of the company’s stock were exchanged, compared to its average volume of 5,164,569. The company’s fifty day simple moving average is $166.12 and its 200 day simple moving average is $206.73. Workday, Inc. has a 52 week low of $117.76 and a 52 week high of $276.00. The company has a current ratio of 1.32, a quick ratio of 1.83 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $34.53 billion, a PE ratio of 50.93, a P/E/G ratio of 1.34 and a beta of 1.16.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, beating the consensus estimate of $2.32 by $0.15. Workday had a return on equity of 13.37% and a net margin of 7.26%.The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the company posted $1.92 EPS. Workday’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on WDAY shares. Sanford C. Bernstein decreased their price objective on shares of Workday from $298.00 to $214.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Morgan Stanley reduced their target price on shares of Workday from $280.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Monday, February 23rd. Oppenheimer decreased their price target on shares of Workday from $200.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Barclays lowered their price target on Workday from $230.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Finally, Stifel Nicolaus set a $175.00 price objective on Workday in a report on Monday, February 9th. Twenty equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $203.00.

Institutional Investors Weigh In On Workday

A number of hedge funds have recently made changes to their positions in the stock. Rakuten Securities Inc. bought a new position in Workday in the second quarter worth about $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Workday in the 3rd quarter worth approximately $26,000. JPL Wealth Management LLC bought a new position in shares of Workday during the 3rd quarter worth approximately $30,000. DT Investment Partners LLC bought a new position in shares of Workday during the 4th quarter worth approximately $27,000. Finally, Berbice Capital Management LLC lifted its position in Workday by 136.4% during the second quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock valued at $31,000 after acquiring an additional 75 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other 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.