David Duffield Sells 107,500 Shares of Workday (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 107,500 shares of Workday stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $129.76, for a total value of $13,949,200.00. Following the transaction, the insider owned 105,049 shares of the company’s stock, valued at $13,631,158.24. This trade represents a 50.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Stock Performance

Shares of WDAY stock traded up $3.21 during trading on Thursday, hitting $132.26. The company’s stock had a trading volume of 2,986,976 shares, compared to its average volume of 5,093,461. The company has a market cap of $33.99 billion, a PE ratio of 51.26, a P/E/G ratio of 1.26 and a beta of 1.14. Workday, Inc. has a 52 week low of $117.76 and a 52 week high of $276.00. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average of $147.10 and a 200-day moving average of $197.04.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, beating the consensus estimate of $2.32 by $0.15. Workday had a return on equity of 13.37% and a net margin of 7.26%.The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the business earned $1.92 earnings per share. Workday’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WDAY. Vanguard Group Inc. raised its holdings in Workday by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock worth $5,371,495,000 after purchasing an additional 3,210,232 shares during the period. Auto Owners Insurance Co boosted its holdings in shares of Workday by 25,412.8% during 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 purchasing an additional 10,190,516 shares during the last quarter. State Street Corp grew its holdings in Workday by 1.0% in the 4th quarter. State Street Corp now owns 9,770,707 shares of the software maker’s stock valued at $2,098,552,000 after buying an additional 96,139 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in Workday by 47.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock worth $1,406,463,000 after purchasing an additional 1,882,391 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Workday by 1.5% during the 4th 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 during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WDAY has been the subject of several recent research reports. Barclays lowered their price objective on Workday from $230.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Loop Capital set a $210.00 price target on shares of Workday in a research note on Thursday, March 12th. Mizuho lowered their price target on Workday from $275.00 to $210.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. TD Cowen downgraded shares of Workday from a “buy” rating to a “hold” rating and set a $155.00 target price on the stock. in a research note on Wednesday, February 25th. Finally, Oppenheimer cut their target price on shares of Workday from $200.00 to $165.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Nineteen equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $199.71.

Workday Company Profile

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.