Workday (NASDAQ:WDAY) Major Shareholder Sells $15,284,350.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $142.18, for a total transaction of $15,284,350.00. Following the sale, the insider directly owned 105,049 shares in the company, valued at $14,935,866.82. The trade was a 50.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Workday Price Performance

NASDAQ:WDAY opened at $133.09 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.83. The company has a 50 day moving average price of $164.66 and a 200-day moving average price of $205.99. Workday, Inc. has a 1-year low of $117.76 and a 1-year high of $276.00. The firm has a market cap of $35.00 billion, a price-to-earnings ratio of 51.59, a price-to-earnings-growth ratio of 1.29 and a beta of 1.16.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.15. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. Workday had a net margin of 7.26% and a return on equity of 13.37%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.92 earnings per share. Equities research analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Mizuho dropped their target price on Workday from $275.00 to $210.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. JPMorgan Chase & Co. reduced their price target on Workday from $270.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, February 24th. DA Davidson lowered their price target on Workday from $250.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. TD Cowen lowered Workday from a “buy” rating to a “hold” rating and set a $155.00 price objective on the stock. in a report on Wednesday, February 25th. Finally, Needham & Company LLC restated a “buy” rating and issued a $300.00 price objective on shares of Workday in a research report on Wednesday, February 25th. Twenty investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $203.00.

Hedge Funds Weigh In On Workday

Hedge funds have recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Workday by 230.2% during the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after buying an additional 2,792 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Workday by 12.1% in the first quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock worth $2,602,000 after buying an additional 1,206 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Workday by 211.7% during the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after acquiring an additional 127 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Workday during the 2nd quarter valued at about $281,000. Finally, Savant Capital LLC grew its stake in Workday by 75.3% during the 2nd quarter. Savant Capital LLC now owns 5,987 shares of the software maker’s stock valued at $1,437,000 after acquiring an additional 2,572 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.