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

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $138.32, for a total value of $14,869,400.00. Following the completion of the sale, the insider owned 105,049 shares in the company, valued at $14,530,377.68. The trade was a 50.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock are required to disclose their sales and purchases with the SEC.

Workday Stock Performance

Shares of WDAY traded down $6.94 during mid-day trading on Thursday, reaching $130.53. The company had a trading volume of 5,879,474 shares, compared to its average volume of 5,415,018. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $253.54. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $32.24 billion, a P/E ratio of 40.79, a PEG ratio of 1.46 and a beta of 1.09. The stock has a 50 day moving average of $128.06 and a two-hundred day moving average of $160.89.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.Workday’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.23 EPS. On average, analysts expect that Workday, Inc. will post 5.4 earnings per share for the current year.

Hedge Funds Weigh In On Workday

Hedge funds have recently made changes to their positions in the company. Rakuten Securities Inc. acquired a new position in shares of Workday during the second quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Workday during the third quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new position in shares of Workday during the third quarter valued at approximately $30,000. DT Investment Partners LLC acquired a new position in shares of Workday during the fourth quarter valued at approximately $27,000. Finally, LRI Investments LLC acquired a new position in shares of Workday during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on WDAY shares. Monness Crespi & Hardt raised Workday to a “hold” rating in a report on Friday, May 22nd. Loop Capital set a $210.00 price target on Workday in a report on Thursday, March 12th. Needham & Company LLC reduced their price target on Workday from $300.00 to $180.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Piper Sandler upped their price target on Workday from $135.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, May 22nd. Finally, UBS Group upped 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. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell 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 $185.03.

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.