Workday (NASDAQ:WDAY) Major Shareholder Sells $13,949,200.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the firm’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $129.76, for a total transaction of $13,949,200.00. Following the completion of the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $13,631,158.24. This trade represents a 50.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Price Performance

Shares of WDAY stock opened at $132.26 on Friday. The firm’s fifty day moving average price is $144.85 and its two-hundred day moving average price is $195.80. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. Workday, Inc. has a 1 year low of $117.76 and a 1 year high of $276.00. The firm has a market capitalization of $33.99 billion, a P/E ratio of 51.26, a PEG ratio of 1.28 and a beta of 1.14.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.15. The company had revenue of $2.53 billion during 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 quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.92 EPS. On average, equities analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WDAY has been the subject of a number of analyst reports. Citizens Jmp downgraded Workday from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 18th. Royal Bank Of Canada dropped their price objective on Workday from $220.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Stifel Nicolaus set a $175.00 price objective on Workday in a report on Monday, February 9th. Morgan Stanley lowered their target price on shares of Workday from $280.00 to $200.00 and set an “equal weight” rating on the stock in a report on Monday, February 23rd. Finally, KeyCorp dropped their price target on shares of Workday from $260.00 to $155.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Nineteen analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $199.71.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Stance Capital LLC lifted its position in Workday by 3.7% during the fourth quarter. Stance Capital LLC now owns 6,238 shares of the software maker’s stock worth $1,340,000 after acquiring an additional 223 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Workday by 12.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 178,827 shares of the software maker’s stock valued at $38,408,000 after purchasing an additional 20,016 shares during the last quarter. Meadowbrook Advisors Group LLC bought a new position in shares of Workday during the fourth quarter worth approximately $320,000. Larry Mathis Financial Planning LLC bought a new position in shares of Workday during the fourth quarter worth approximately $216,000. Finally, Green Ridge Wealth Planning LLC acquired a new stake in Workday during the 4th quarter worth approximately $237,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.