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 firm’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $132.58, for a total value of $14,252,350.00. Following the sale, the insider directly owned 105,049 shares in the company, valued at approximately $13,927,396.42. This represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Up 1.9%

Shares of WDAY opened at $135.96 on Friday. 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 12-month low of $117.76 and a 12-month high of $276.00. The business’s 50 day moving average is $157.12 and its 200 day moving average is $202.82. The company has a market capitalization of $34.94 billion, a PE ratio of 52.70, a price-to-earnings-growth ratio of 1.30 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 for the quarter, topping the consensus estimate of $2.32 by $0.15. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a net margin of 7.26% and a return on equity of 13.37%. Workday’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.92 earnings per share. Research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Workday

Hedge funds have recently modified their holdings of the business. Rakuten Securities Inc. bought a new position in Workday in the second quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new stake in Workday in the third quarter valued at approximately $26,000. DT Investment Partners LLC acquired a new position in shares of Workday during the fourth quarter worth $27,000. LRI Investments LLC purchased a new stake in shares of Workday during the 4th quarter valued at $29,000. Finally, JPL Wealth Management LLC acquired a new stake in shares of Workday in the 3rd quarter worth $30,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

WDAY has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Workday from $270.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 24th. Raymond James Financial reaffirmed a “market perform” rating on shares of Workday in a research note on Monday, February 9th. Royal Bank Of Canada dropped their price objective on Workday from $220.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Oppenheimer reduced their target price on Workday from $200.00 to $165.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Workday from $265.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Nineteen research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.71.

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.