Workday (NASDAQ:WDAY) Major Shareholder Sells $12,281,875.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $114.25, for a total transaction of $12,281,875.00. Following the completion of the transaction, the insider owned 105,049 shares in the company, valued at approximately $12,001,848.25. This represents a 50.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 transactions with the SEC.

Workday Trading Up 9.2%

Shares of NASDAQ:WDAY opened at $124.21 on Friday. The firm has a fifty day moving average of $127.46 and a two-hundred day moving average of $153.11. The firm has a market capitalization of $30.68 billion, a P/E ratio of 38.82, a price-to-earnings-growth ratio of 1.22 and a beta of 1.09. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $249.85. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating the consensus estimate of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the company posted $2.23 EPS. Workday’s revenue was up 13.5% on a year-over-year basis. On average, equities analysts expect that Workday, Inc. will post 5.34 EPS for the current fiscal year.

Institutional Trading of Workday

Several large investors have recently made changes to their positions in WDAY. Finivi Inc. raised its stake in shares of Workday by 3.3% in the 3rd quarter. Finivi Inc. now owns 1,516 shares of the software maker’s stock valued at $365,000 after acquiring an additional 48 shares in the last quarter. Strategic Investment Advisors MI boosted its position in Workday by 1.6% during the second quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker’s stock worth $777,000 after purchasing an additional 50 shares during the period. Legacy Financial Advisors Inc. boosted its position in Workday by 5.1% during the third quarter. Legacy Financial Advisors Inc. now owns 1,113 shares of the software maker’s stock worth $268,000 after purchasing an additional 54 shares during the period. Sagespring Wealth Partners LLC grew its holdings in Workday by 3.0% during the fourth quarter. Sagespring Wealth Partners LLC now owns 2,052 shares of the software maker’s stock valued at $441,000 after purchasing an additional 59 shares during the last quarter. Finally, CVA Family Office LLC grew its holdings in Workday by 35.3% during the fourth quarter. CVA Family Office LLC now owns 249 shares of the software maker’s stock valued at $53,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the topic of several research reports. Wall Street Zen raised Workday from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Workday in a report on Wednesday, June 17th. KeyCorp boosted their price target on Workday from $155.00 to $158.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Bank of America initiated coverage on Workday in a report on Wednesday, May 27th. They issued a “neutral” rating and a $140.00 price objective on the stock. Finally, William Blair raised shares of Workday to a “strong-buy” rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and an average price target of $184.00.

Trending Headlines about Workday

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Investors appear to be re-rating Workday after its latest quarterly results showed solid revenue growth, stronger-than-expected earnings, and an increased full-year operating margin outlook, reinforcing confidence in the company’s execution and demand trends.
• Positive Sentiment: Workday’s AI and data-platform efforts are helping sentiment, including its AWS Data Cloud integration and broader AI product push, which may support future growth as enterprises spend more on AI-enabled software.
• Positive Sentiment: A market rotation into software has also lifted shares, with investors favoring names like Workday over semiconductors in the latest move across the market.
• Positive Sentiment: Wall Street sentiment has improved, highlighted by Monness Crespi & Hardt upgrading Workday to buy with a $150 price target, adding to a generally constructive analyst backdrop.
• Neutral Sentiment: Recent insider selling by major shareholder David Duffield was disclosed under a pre-arranged trading plan, which may limit its significance for day-to-day trading but is still something investors may watch.
• Negative Sentiment: Workday continues to face a lawsuit tied to alleged AI bias in job-screening tools, creating a legal overhang that could temper enthusiasm if the case escalates.

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.