Key Points
- David Duffield, a major Workday shareholder, sold 81,434 shares on Dec. 16 at an average price of $215.98 for about $17.59 million, cutting his stake by 43.67% to 105,049 shares (≈$22.69M).
- Workday recently beat quarterly expectations with $2.32 EPS versus $2.17 expected and revenue of $2.43 billion (up 12.6% year-over-year); the company has a market cap of $57.36 billion and a P/E of 91.63.
- Analyst sentiment is largely positive but mixed — the stock carries an average rating of "Moderate Buy" with a consensus target of $282.22, while several firms have trimmed price targets (e.g., Canaccord to $275, BMO to $285).
Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 81,434 shares of Workday stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $215.98, for a total value of $17,588,115.32. Following the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $22,688,483.02. This trade represents a 43.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Workday Price Performance
NASDAQ WDAY opened at $218.08 on Friday. The company has a 50 day simple moving average of $227.36 and a 200-day simple moving average of $232.05. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83. The firm has a market capitalization of $57.36 billion, a price-to-earnings ratio of 91.63, a price-to-earnings-growth ratio of 2.45 and a beta of 1.15. Workday, Inc. has a 52-week low of $205.33 and a 52-week high of $283.68.
Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, beating analysts' consensus estimates of $2.17 by $0.15. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.42 billion. Workday had a net margin of 6.95% and a return on equity of 10.50%. The firm's revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.89 earnings per share. Equities research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the stock. Canaccord Genuity Group dropped their price target on shares of Workday from $330.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, August 22nd. Macquarie reaffirmed a "buy" rating on shares of Workday in a research note on Wednesday, November 26th. BMO Capital Markets reduced their price target on Workday from $314.00 to $285.00 and set an "outperform" rating for the company in a report on Friday, August 22nd. Citizens Jmp restated a "market outperform" rating and issued a $315.00 price objective on shares of Workday in a report on Wednesday, November 26th. Finally, DA Davidson reduced their target price on shares of Workday from $260.00 to $250.00 and set a "hold" rating for the company in a research note on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $282.22.
Check Out Our Latest Research Report on Workday
Hedge Funds Weigh In On Workday
Institutional investors have recently modified their holdings of the company. Rakuten Securities Inc. bought a new stake in shares of Workday during the 2nd quarter worth $25,000. Measured Wealth Private Client Group LLC acquired a new position in Workday during the 3rd quarter worth $26,000. JPL Wealth Management LLC acquired a new position in Workday during the 3rd quarter worth $30,000. Berbice Capital Management LLC boosted its holdings in Workday by 136.4% during the second quarter. Berbice Capital Management LLC now owns 130 shares of the software maker's stock valued at $31,000 after acquiring an additional 75 shares during the period. Finally, Golden State Wealth Management LLC grew its position in shares of Workday by 2,216.7% in the second quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker's stock valued at $33,000 after purchasing an additional 133 shares during the last quarter. Institutional investors own 89.81% of the company's stock.
About Workday
(
Get Free Report)
Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
