David Duffield Sells 107,500 Shares of Workday (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of Workday stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $136.74, for a total value of $14,699,550.00. Following the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at $14,364,400.26. This trade represents a 50.58% decrease in their position. The transaction was disclosed in a legal 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. Major 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

Workday stock opened at $139.81 on Wednesday. The firm has a market capitalization of $34.53 billion, a PE ratio of 43.69, a P/E/G ratio of 1.55 and a beta of 1.11. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85. The firm’s 50-day simple moving average is $130.44 and its 200 day simple moving average is $145.60. 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 earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.15. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. During the same period last year, the firm posted $2.23 EPS. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, equities research analysts predict that Workday, Inc. will post 5.34 EPS for the current fiscal year.

Key Stories Impacting Workday

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Workday has continued to attract bullish analyst attention, with some commentary arguing the stock looks undervalued relative to enterprise AI/software peers and supported by rising earnings estimates. Workday vs. Arista: Which Enterprise AI Stock Has More Upside Now?
• Positive Sentiment: Earlier in the week, enterprise software names, including Workday, bounced as investors rotated into oversold software stocks after weakness in semiconductors. Salesforce, Workday, and PagerDuty Stocks Trade Up, What You Need To Know
• Neutral Sentiment: Workday was highlighted in market commentary as a strong growth stock, but this was more of a style-score/valuation discussion than a fresh catalyst for shares. Here’s Why Workday (WDAY) is a Strong Growth Stock
• Negative Sentiment: Large-shareholder selling by co-founder David Duffield added caution, even though the sale was made under a pre-arranged Rule 10b5-1 plan. Workday (NASDAQ:WDAY) Major Shareholder Sells 107,500 Shares of Stock
• Negative Sentiment: Broad software-sector weakness tied to IBM’s results and comments about budget shifts toward hardware has weighed on Workday alongside peers like HubSpot, Asana, and The Trade Desk. Software Stocks Sink as IBM Miss Delivers ‘Devastating Blow’

Wall Street Analyst Weigh In

WDAY has been the subject of several research reports. Sanford C. Bernstein restated an “outperform” rating and set a $216.00 price objective on shares of Workday in a research report on Friday, May 22nd. Jefferies Financial Group increased their target price on Workday from $115.00 to $140.00 and gave the company a “hold” rating in a report on Friday, May 22nd. William Blair raised Workday to a “strong-buy” rating in a research report on Friday, May 22nd. UBS Group boosted their price target on Workday from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, May 22nd. Finally, HC Wainwright set a $140.00 price objective on Workday in a research report on Wednesday, May 27th. One research 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. Based on data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $184.00.

Institutional Trading of Workday

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after acquiring an additional 2,792 shares during the period. Empowered Funds LLC grew its holdings in Workday by 12.1% in the first quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock valued at $2,602,000 after purchasing an additional 1,206 shares during the period. Geneos Wealth Management Inc. grew its holdings in Workday by 211.7% in the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock valued at $44,000 after purchasing an additional 127 shares during the period. Sivia Capital Partners LLC acquired a new position in Workday during the second quarter worth approximately $281,000. Finally, NewEdge Advisors LLC raised its stake in 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 purchasing an additional 1,600 shares during the period. Hedge funds and other institutional investors 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.