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 30th. The stock was sold at an average price of $122.04, for a total transaction of $13,119,300.00. Following the completion of the transaction, the insider owned 105,049 shares in the company, valued at approximately $12,820,179.96. The trade was a 50.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Up 6.4%

WDAY stock traded up $7.85 during trading on Wednesday, hitting $130.27. 3,563,428 shares of the stock traded hands, compared to its average volume of 5,208,140. The firm’s 50 day moving average is $127.41 and its two-hundred day moving average is $151.23. The stock has a market cap of $32.18 billion, a price-to-earnings ratio of 40.71, a price-to-earnings-growth ratio of 1.32 and a beta of 1.09. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01.

Workday (NASDAQ:WDAY) last announced its quarterly 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 company 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%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.23 earnings per share. On average, sell-side analysts anticipate that Workday, Inc. will post 5.34 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Loop Capital set a $210.00 price objective on shares of Workday in a report on Thursday, March 12th. UBS Group raised their target price on shares of Workday from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, May 22nd. Needham & Company LLC cut their target price on shares of Workday from $300.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Summit Redstone set a $275.00 target price on shares of Workday in a research note on Wednesday, May 27th. Finally, TD Cowen reissued a “hold” rating on shares of Workday in a report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $184.00.

Institutional Investors Weigh In On Workday

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Auto Owners Insurance Co increased its stake in shares of Workday by 25,412.8% in 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 in the last quarter. Vanguard Group Inc. grew its position in shares of Workday by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock worth $5,371,495,000 after purchasing an additional 3,210,232 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Workday by 101.4% during the fourth quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker’s stock valued at $1,077,537,000 after buying an additional 2,525,821 shares during the last quarter. First Eagle Investment Management LLC bought a new stake in Workday in the 3rd quarter valued at $556,252,000. Finally, Norges Bank purchased a new stake in shares of Workday in the fourth quarter worth about $448,804,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

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.