Insider Selling: Workday (NASDAQ:WDAY) Major Shareholder Sells $18,924,777.69 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 94,961 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $199.29, for a total transaction of $18,924,777.69. Following the transaction, the insider owned 105,049 shares in the company, valued at $20,935,215.21. This represents a 47.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 transactions with the SEC.

Workday Stock Up 3.0%

NASDAQ:WDAY traded up $6.05 during trading hours on Thursday, reaching $206.92. The company’s stock had a trading volume of 2,980,276 shares, compared to its average volume of 5,077,104. The company has a market cap of $51.11 billion, a price-to-earnings ratio of 41.97, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. Workday, Inc. has a one year low of $110.36 and a one year high of $249.85. The business’s 50-day moving average is $162.72 and its 200-day moving average is $141.80. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91.

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. William Blair reissued an “outperform” rating on shares of Workday in a research note on Friday, August 28th. Stifel Nicolaus increased their price target on Workday from $115.00 to $160.00 and gave the company a “hold” rating in a report on Friday, August 28th. Royal Bank Of Canada lifted 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. The Goldman Sachs Group boosted their price objective on shares of Workday from $151.00 to $164.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Summit Redstone set a $275.00 price objective on shares of Workday in a report on Wednesday, May 27th. Twenty research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Workday currently has a consensus rating of “Hold” and an average price target of $206.34.

Hedge Funds Weigh In On Workday

Large investors have recently made changes to their positions in the business. Plato Investment Management Ltd acquired a new stake in shares of Workday in the second quarter worth $1,115,000. Norges Bank acquired a new position in Workday during the 4th quarter valued at $448,804,000. S&CO Inc. acquired a new position in Workday during the 2nd quarter valued at $2,284,000. Harvest Fund Management Co. Ltd boosted its holdings in Workday by 40.1% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock valued at $11,943,000 after purchasing an additional 15,903 shares during the period. Finally, Aurora Investment Counsel bought a new stake in Workday in the 4th quarter valued at $2,357,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.