Workday (NASDAQ:WDAY) Stock: Insider David Duffield Sells 98,446 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 98,446 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $187.07, for a total transaction of $18,416,293.22. Following the transaction, the insider owned 105,049 shares in the company, valued at approximately $19,651,516.43. The trade was a 48.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 Stock Performance

Shares of NASDAQ WDAY traded up $2.82 during mid-day trading on Monday, hitting $188.96. The company had a trading volume of 2,176,417 shares, compared to its average volume of 4,787,787. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $247.40. The firm has a market cap of $45.54 billion, a P/E ratio of 38.33, a PEG ratio of 1.87 and a beta of 1.07. The business’s 50-day simple moving average is $187.10 and its 200-day simple moving average is $149.80. 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 issued its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share (EPS) for the quarter, beating 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 return on equity of 20.95% and a net margin of 12.32%.The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.21 earnings per share. As a group, analysts predict that Workday, Inc. will post 5.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on WDAY. Royal Bank Of Canada upped their target price on Workday from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, August 28th. Wells Fargo & Company boosted their price target on shares of Workday from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, August 28th. Morgan Stanley raised their price objective on shares of Workday from $145.00 to $180.00 and gave the stock an “underweight” rating in a report on Friday, August 28th. DA Davidson lifted their target price on shares of Workday from $135.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, August 28th. Finally, Stifel Nicolaus upped their target price on shares of Workday from $115.00 to $160.00 and gave the company a “hold” rating in a research note on Friday, August 28th. Twenty research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Workday has an average rating of “Hold” and a consensus target price of $206.34.

Institutional Trading of Workday

Several large investors have recently added to or reduced their stakes in the company. Auto Owners Insurance Co boosted its holdings 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 worth $2,197,332,000 after acquiring an additional 10,190,516 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Workday by 101.4% during the 4th quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker’s stock valued at $1,077,537,000 after purchasing an additional 2,525,821 shares in the last quarter. Contour Asset Management LLC bought a new position in Workday in the 4th quarter valued at $184,083,000. Pacer Advisors Inc. boosted its stake in Workday by 840.9% in the fourth quarter. Pacer Advisors Inc. now owns 765,049 shares of the software maker’s stock worth $164,317,000 after purchasing an additional 683,741 shares in the last quarter. Finally, Lead Edge Capital Management LLC bought a new stake in shares of Workday during the first quarter worth $79,988,000. 89.81% of the stock is owned by institutional investors.

About Workday

Workday, Inc develops cloud-based enterprise software for managing an organization’s people, finances and operations. Its platform is primarily used by businesses, government agencies and educational institutions to support human resources, finance, planning, analytics and related administrative processes.

The company’s offerings include Workday Human Capital Management, Financial Management, Adaptive Planning, Spend Management, payroll, recruiting, talent management, learning and workforce analytics.