Workday (NASDAQ:WDAY) Major Shareholder David Duffield Sells 107,500 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $114.25, for a total transaction of $12,281,875.00. Following the transaction, the insider directly owned 105,049 shares in the company, valued at $12,001,848.25. The trade was a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 transactions with the SEC.

Workday Stock Up 2.6%

NASDAQ WDAY traded up $2.97 during trading on Wednesday, hitting $118.10. 3,271,664 shares of the company traded hands, compared to its average volume of 5,218,673. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $249.85. The business has a fifty day simple moving average of $127.58 and a 200 day simple moving average of $154.75. The company has a market capitalization of $29.17 billion, a P/E ratio of 36.91, a PEG ratio of 1.21 and a beta of 1.09. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping 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 return on equity of 14.75% and a net margin of 8.60%.The firm’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.23 EPS. As a group, sell-side analysts predict that Workday, Inc. will post 5.34 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC acquired a new stake in Workday in the 3rd quarter worth $556,252,000. Norges Bank bought a new stake in shares of Workday in the fourth quarter valued at about $448,804,000. Harvest Fund Management Co. Ltd lifted its stake in shares of Workday by 40.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock valued at $11,943,000 after buying an additional 15,903 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Workday by 18.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock worth $122,804,000 after buying an additional 88,384 shares in the last quarter. Finally, Morningstar Investment Management LLC grew its position in Workday by 127.2% during the fourth quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock worth $5,808,000 after buying an additional 15,138 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on WDAY shares. UBS Group increased their price target on Workday from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, May 22nd. KeyCorp boosted their price objective on shares of Workday from $155.00 to $158.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Wolfe Research reaffirmed an “outperform” rating and set a $160.00 price objective on shares of Workday in a report on Friday, May 22nd. Oppenheimer reiterated an “outperform” rating on shares of Workday in a research note on Thursday, June 11th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Workday in a report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus target price of $185.03.

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.