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 company’s stock in a transaction dated 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 transaction, the insider directly owned 105,049 shares in the company, valued at $19,501,296.36. The trade was a 48.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Workday Trading Up 4.6%

Shares of WDAY traded up $8.51 during trading on Monday, reaching $194.21. 2,885,773 shares of the company traded hands, compared to its average volume of 4,989,837. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $249.85. The stock has a market cap of $46.80 billion, a PE ratio of 39.39, a price-to-earnings-growth ratio of 1.87 and a beta of 1.08. The stock has a 50-day simple moving average of $171.85 and a 200-day simple moving average of $144.34. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31.

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. Oppenheimer raised their price target on Workday from $165.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, August 24th. Piper Sandler boosted their price objective on Workday from $145.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, August 28th. William Blair reissued an “outperform” rating on shares of Workday in a research note on Friday, August 28th. Royal Bank Of Canada raised their target price on Workday from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, August 28th. Finally, Lake Street Capital set a $205.00 target price on Workday in a research report on Friday, August 14th. Twenty equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $206.34.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System grew its stake in Workday by 11,770.8% during the 2nd quarter. California State Teachers Retirement System now owns 36,907,426 shares of the software maker’s stock worth $4,518,207,000 after purchasing an additional 36,596,516 shares in the last quarter. Auto Owners Insurance Co boosted its stake in shares of Workday by 25,412.8% in the 4th quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock valued at $2,197,332,000 after buying an additional 10,190,516 shares during the period. Geode Capital Management LLC grew its position in shares of Workday by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker’s stock worth $1,089,970,000 after buying an additional 75,922 shares in the last quarter. Janus Henderson Group PLC increased its stake 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 worth $1,077,537,000 after buying an additional 2,525,821 shares during the period. Finally, Norges Bank purchased a new stake in shares of Workday during the fourth quarter worth approximately $448,804,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

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.