Key Points
- David Duffield, a major Workday shareholder, sold 82,884 shares at an average of $209.75 for about $17.38 million, leaving him with 105,049 shares — a reported 44.10% reduction in his stake.
- Workday recently topped quarterly expectations with EPS of $2.32 versus $2.17 expected and revenue of $2.43 billion, up 12.6% year-over-year.
- Analysts have a consensus rating of "Moderate Buy" and a $281.59 average target while the stock trades near $207, with a PE of 87.05 and a market cap around $54.5 billion.
Workday, Inc. (NASDAQ:WDAY - Get Free Report) CAO Mark Garfield sold 953 shares of the company's stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $209.56, for a total value of $199,710.68. Following the sale, the chief accounting officer directly owned 35,336 shares of the company's stock, valued at $7,405,012.16. The trade was a 2.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Workday Trading Down 1.2%
NASDAQ:WDAY opened at $207.18 on Friday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34. The company's 50 day moving average is $219.85 and its 200-day moving average is $228.46. The firm has a market cap of $54.49 billion, a price-to-earnings ratio of 87.05, a P/E/G ratio of 2.37 and a beta of 1.14. Workday, Inc. has a 12 month low of $202.22 and a 12 month high of $283.68.
Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period last year, the business posted $1.89 EPS. Workday's revenue was up 12.6% compared to the same quarter last year. Equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. Rosenblatt Securities initiated coverage on Workday in a research report on Tuesday, December 2nd. They issued a "neutral" rating and a $235.00 price target on the stock. Barclays dropped their target price on shares of Workday from $288.00 to $280.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 26th. JMP Securities reissued a "market outperform" rating and issued a $315.00 price target on shares of Workday in a report on Wednesday, September 17th. Macquarie restated a "buy" rating on shares of Workday in a report on Wednesday, November 26th. Finally, Piper Sandler upgraded shares of Workday from an "underweight" rating to a "neutral" rating and increased their target price for the company from $220.00 to $235.00 in a research note on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $281.59.
Get Our Latest Research Report on WDAY
Institutional Investors Weigh In On Workday
Institutional investors and hedge funds have recently made changes to their positions in the company. AlphaQuest LLC lifted its holdings in Workday by 636.7% during the second quarter. AlphaQuest LLC now owns 1,886 shares of the software maker's stock worth $453,000 after acquiring an additional 1,630 shares in the last quarter. Norges Bank bought a new position in Workday in the second quarter valued at approximately $442,702,000. Chicago Capital LLC boosted its holdings in shares of Workday by 2.2% in the second quarter. Chicago Capital LLC now owns 175,802 shares of the software maker's stock valued at $42,193,000 after buying an additional 3,824 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of Workday by 16.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 483,382 shares of the software maker's stock worth $116,365,000 after acquiring an additional 67,125 shares in the last quarter. Finally, Stance Capital LLC acquired a new stake in shares of Workday during the second quarter worth $1,276,000. 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.
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