Workday (NASDAQ:WDAY) Major Shareholder Sells $17,954,456.10 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 90,615 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $198.14, for a total value of $17,954,456.10. Following the sale, the insider owned 105,049 shares of the company’s stock, valued at approximately $20,814,408.86. This represents a 46.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Stock Down 0.1%

Shares of WDAY traded down $0.23 during trading hours on Wednesday, reaching $186.05. The stock had a trading volume of 2,308,070 shares, compared to its average volume of 5,035,185. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $249.85. The firm has a 50-day simple moving average of $168.73 and a 200 day simple moving average of $143.28. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $44.84 billion, a price-to-earnings ratio of 37.74, a P/E/G ratio of 1.98 and a beta of 1.08.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.14. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.64 billion. Workday had a net margin of 12.32% and a return on equity of 20.95%. Workday’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.21 EPS. Equities research analysts predict that Workday, Inc. will post 5.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. HC Wainwright set a $140.00 price objective on shares of Workday in a report on Wednesday, May 27th. Lake Street Capital set a $205.00 target price on shares of Workday in a report on Friday, August 14th. Royal Bank Of Canada raised their price target on shares of Workday from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, August 28th. BTIG Research downgraded Workday from a “buy” rating to a “neutral” rating in a research note on Monday, August 17th. Finally, Oppenheimer boosted their price objective on Workday from $165.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, August 24th. Twenty equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $206.34.

Institutional Trading of Workday

Several institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System lifted its position in shares of Workday by 11,770.8% during the second quarter. California State Teachers Retirement System now owns 36,907,426 shares of the software maker’s stock valued at $4,518,207,000 after purchasing an additional 36,596,516 shares in the last quarter. Auto Owners Insurance Co boosted its holdings in Workday by 25,412.8% during the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock worth $2,197,332,000 after purchasing an additional 10,190,516 shares during the last quarter. State Street Corp grew its position in Workday by 1.0% in the 4th quarter. State Street Corp now owns 9,770,707 shares of the software maker’s stock worth $2,098,552,000 after purchasing an additional 96,139 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Workday by 47.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock worth $1,406,463,000 after purchasing an additional 1,882,391 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Workday by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker’s stock valued at $1,089,970,000 after buying an additional 75,922 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

About Workday

Workday, Inc develops cloud-based enterprise software designed to help organizations manage finance, human resources and related business operations. Its platform provides tools for financial management, accounting, procurement, expenses, payroll, workforce management, recruiting, talent management, employee experience and enterprise planning.

The company also offers analytics, reporting and artificial intelligence capabilities that support budgeting, forecasting, workforce planning and business decision-making.