Workday (NASDAQ:WDAY) Major Shareholder Sells $18,708,799.20 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 100,780 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $185.64, for a total transaction of $18,708,799.20. Following the completion of the sale, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $19,501,296.36. This trade represents a 48.96% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Stock Performance

NASDAQ:WDAY opened at $187.76 on Thursday. The firm’s 50-day moving average is $174.91 and its 200-day moving average is $145.53. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $249.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $45.25 billion, a price-to-earnings ratio of 38.09, a PEG ratio of 1.92 and a beta of 1.08.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. DT Investment Partners LLC bought a new position in Workday during the 4th quarter worth approximately $27,000. Lloyd Advisory Services LLC. bought a new stake in shares of Workday in the 4th quarter valued at $47,000. Western Wealth Management LLC acquired a new stake in Workday during the 1st quarter worth $39,000. Reflection Asset Management acquired a new stake in Workday during the 4th quarter worth $66,000. Finally, SBI Okasan Asset Management Co.Ltd. bought a new position in Workday during the fourth quarter worth about $74,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Cantor Fitzgerald reduced their price target on shares of Workday from $220.00 to $205.00 and set an “overweight” rating on the stock in a research report on Friday, August 28th. Canaccord Genuity Group lifted their target price on shares of Workday from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Citigroup boosted their target price on Workday from $139.00 to $201.00 and gave the stock a “neutral” rating in a report on Friday, August 28th. The Goldman Sachs Group lifted their price objective on Workday from $151.00 to $164.00 and gave the company a “neutral” rating in a research report on Monday, August 31st. Finally, Lake Street Capital set a $205.00 price objective on Workday in a research note on Friday, August 14th. Twenty analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $206.34.

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.