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

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $115.60, for a total value of $12,427,000.00. Following the completion of the sale, the insider owned 105,049 shares of the company’s stock, valued at $12,143,664.40. This trade 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 this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Price Performance

NASDAQ WDAY traded down $0.63 on Monday, hitting $123.58. The company had a trading volume of 3,695,230 shares, compared to its average volume of 5,238,581. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The company’s fifty day moving average price is $127.46 and its 200-day moving average price is $152.63. The company has a market capitalization of $30.52 billion, a PE ratio of 38.62, a PEG ratio of 1.33 and a beta of 1.09. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $249.85.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.15. The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.23 earnings per share. As a group, analysts predict that Workday, Inc. will post 5.34 earnings per share for the current year.

Institutional Investors Weigh In On Workday

A number of institutional investors have recently modified their holdings of WDAY. Brighton Jones LLC grew its holdings in shares of Workday by 230.2% in the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after purchasing an additional 2,792 shares in the last quarter. Empowered Funds LLC boosted its position in Workday by 12.1% in the 1st quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock valued at $2,602,000 after buying an additional 1,206 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Workday by 211.7% in the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after acquiring an additional 127 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Workday in the second quarter worth $281,000. Finally, NewEdge Advisors LLC increased its position in shares of Workday by 32.0% during the second quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker’s stock worth $1,583,000 after acquiring an additional 1,600 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the company. The Goldman Sachs Group reduced their price objective on Workday from $206.00 to $151.00 and set a “neutral” rating for the company in a research note on Tuesday, May 26th. Jefferies Financial Group upped their target price on shares of Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Friday, May 22nd. Loop Capital set a $210.00 price target on shares of Workday in a research report on Thursday, March 12th. Wall Street Zen raised shares of Workday from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.00.

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.