Key Points
- Major shareholder David Duffield sold 107,500 shares of Workday on March 5 at an average price of $147.16 for about $15.82 million, cutting his stake by 50.58% to 105,049 shares (≈$15.46M) per the SEC filing.
- Workday recently beat quarterly expectations with $2.47 EPS vs. $2.32 est. and reported $2.53 billion in revenue (up 14.5% year-over-year), while analysts expect roughly $2.63 EPS for the current fiscal year.
- The stock carries a high valuation (PE ~57.4) and trades below its 50- and 200-day moving averages ($170.76 and $208.28), and analysts maintain a consensus rating of "Moderate Buy" with an average target price of $205.19 despite several recent target cuts.
Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 107,500 shares of the firm's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $147.16, for a total transaction of $15,819,700.00. Following the completion of the transaction, the insider directly owned 105,049 shares of the company's stock, valued at approximately $15,459,010.84. This trade represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Workday Trading Down 1.9%
Shares of WDAY opened at $148.14 on Tuesday. The stock has a market capitalization of $38.96 billion, a PE ratio of 57.42, a P/E/G ratio of 1.47 and a beta of 1.17. The company's fifty day moving average is $170.76 and its 200 day moving average is $208.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.83 and a current ratio of 1.32. Workday, Inc. has a fifty-two week low of $117.76 and a fifty-two week high of $276.00.
Workday (NASDAQ:WDAY - Get Free Report) last released 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 net margin of 7.26% and a return on equity of 13.37%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the business earned $1.92 earnings per share. Workday's quarterly revenue was up 14.5% compared to the same quarter last year. Sell-side analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.
Institutional Trading of Workday
Institutional investors have recently added to or reduced their stakes in the company. Perennial Investment Advisors LLC boosted its position in shares of Workday by 2.8% during the second quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker's stock valued at $418,000 after buying an additional 48 shares during the period. Finivi Inc. lifted its stake in shares of Workday by 3.3% during the 3rd quarter. Finivi Inc. now owns 1,516 shares of the software maker's stock worth $365,000 after acquiring an additional 48 shares during the last quarter. Bay Harbor Wealth Management LLC boosted its holdings in Workday by 12.0% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker's stock valued at $110,000 after acquiring an additional 49 shares during the period. Farther Finance Advisors LLC boosted its holdings in Workday by 1.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,128 shares of the software maker's stock valued at $994,000 after acquiring an additional 49 shares during the period. Finally, Kingsview Wealth Management LLC grew its position in Workday by 1.1% in the 2nd quarter. Kingsview Wealth Management LLC now owns 4,544 shares of the software maker's stock valued at $1,091,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 89.81% of the company's stock.
Analyst Ratings Changes
Several research analysts recently commented on the company. Loop Capital set a $280.00 price target on Workday in a research report on Wednesday, December 10th. BMO Capital Markets decreased their price objective on Workday from $204.00 to $182.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 25th. Piper Sandler lowered their price objective on Workday from $200.00 to $135.00 and set a "neutral" rating for the company in a research note on Wednesday, February 25th. DA Davidson dropped their target price on Workday from $250.00 to $125.00 and set a "neutral" rating for the company in a report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. cut their target price on Workday from $270.00 to $230.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 24th. Twenty investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $205.19.
Read Our Latest Research Report on Workday
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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