Key Points
- David Duffield, a major Workday insider, sold 80,279 shares on Dec. 23 at an average of $215.04 for proceeds of $17,263,196.16, cutting his position by 43.32% to 105,049 shares (valued ~ $22.59M).
- Workday recently beat quarterly estimates with $2.32 EPS and $2.43B revenue (revenue +12.6% YoY); the stock trades near $219 with a market cap of ~$57.6B and a consensus analyst price target of $282.22 (average rating: "Moderate Buy").
Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 80,279 shares of the business's stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $215.04, for a total value of $17,263,196.16. Following the completion of the transaction, the insider owned 105,049 shares in the company, valued at $22,589,736.96. This trade represents a 43.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Workday Stock Down 0.8%
WDAY opened at $218.99 on Tuesday. The company has a market capitalization of $57.59 billion, a PE ratio of 92.01, a price-to-earnings-growth ratio of 2.49 and a beta of 1.15. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83. Workday, Inc. has a fifty-two week low of $205.33 and a fifty-two week high of $283.68. The business has a 50-day moving average of $224.95 and a 200-day moving average of $230.15.
Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, beating the consensus estimate of $2.17 by $0.15. The business had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.42 billion. Workday had a return on equity of 10.50% and a net margin of 6.95%.The firm's quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.89 EPS. Equities research analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on WDAY shares. Wells Fargo & Company decreased their price objective on shares of Workday from $300.00 to $290.00 and set an "overweight" rating for the company in a report on Wednesday, November 26th. Rosenblatt Securities began coverage on Workday in a research report on Tuesday, December 2nd. They issued a "neutral" rating and a $235.00 price target for the company. Piper Sandler upgraded Workday from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $220.00 to $235.00 in a research note on Wednesday, September 17th. Sanford C. Bernstein cut their price objective on Workday from $304.00 to $298.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 26th. Finally, TD Cowen decreased their target price on Workday from $290.00 to $280.00 and set a "buy" rating for the company in a research report on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $282.22.
Read Our Latest Research Report on Workday
Institutional Trading of Workday
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Finivi Inc. lifted its holdings in shares of Workday by 3.3% during the third quarter. Finivi Inc. now owns 1,516 shares of the software maker's stock worth $365,000 after buying an additional 48 shares during the last quarter. Garde Capital Inc. increased its position in Workday by 132.9% during the third quarter. Garde Capital Inc. now owns 1,896 shares of the software maker's stock worth $119,000 after acquiring an additional 1,082 shares during the period. FNY Investment Advisers LLC acquired a new position in Workday during the 3rd quarter valued at $244,000. Swiss Life Asset Management Ltd raised its stake in Workday by 5.7% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 36,377 shares of the software maker's stock valued at $8,757,000 after purchasing an additional 1,968 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in Workday in the 3rd quarter valued at $9,087,000. Institutional investors and hedge funds own 89.81% of the company's stock.
About Workday
(
Get Free Report)
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.
Read More
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].
