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 business’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $136.82, for a total transaction of $14,708,150.00. Following the completion of the sale, the insider owned 105,049 shares in the company, valued at $14,372,804.18. This represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Performance

NASDAQ:WDAY opened at $127.07 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average price of $152.96 and a two-hundred day moving average price of $200.53. Workday, Inc. has a twelve month low of $117.76 and a twelve month high of $276.00. The company has a market capitalization of $32.66 billion, a P/E ratio of 49.25, a price-to-earnings-growth ratio of 1.26 and a beta of 1.16.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WDAY. Finivi Inc. grew its position in shares of Workday by 3.3% in the third quarter. Finivi Inc. now owns 1,516 shares of the software maker’s stock valued at $365,000 after purchasing an additional 48 shares during the period. Bay Harbor Wealth Management LLC lifted its position in Workday by 12.0% during the third quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker’s stock worth $110,000 after buying an additional 49 shares during the period. Farther Finance Advisors LLC boosted its stake in Workday by 1.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,128 shares of the software maker’s stock worth $994,000 after buying an additional 49 shares during the last quarter. Strategic Investment Advisors MI boosted its stake in Workday by 1.6% in the 2nd quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker’s stock worth $777,000 after buying an additional 50 shares during the last quarter. Finally, Spirepoint Private Client LLC boosted its stake in Workday by 3.6% in the 3rd quarter. Spirepoint Private Client LLC now owns 1,452 shares of the software maker’s stock worth $350,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Sanford C. Bernstein lowered their target price on Workday from $298.00 to $214.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Barclays cut 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. Macquarie Infrastructure restated a “buy” rating on shares of Workday in a research report on Wednesday, November 26th. BMO Capital Markets decreased their price objective on Workday from $204.00 to $182.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Finally, Citigroup dropped their price objective on Workday from $247.00 to $148.00 and set a “neutral” rating for the company in a research report on Thursday, February 26th. Nineteen research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.71.

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.