Key Points
- Major shareholder David Duffield sold 107,500 shares of Workday on March 10 at an average price of $142.18, generating about $15.28 million and reducing his stake by 50.58% to 105,049 shares.
- Workday shares recently traded near $131.30 (down $2.84), the company reported a quarter with $2.47 EPS (beating estimates) and revenue of $2.53 billion (up 14.5% year-over-year), and the stock has a market cap of about $34.5 billion.
- Analysts remain broadly positive with a consensus rating of "Moderate Buy" (20 Buys, 15 Holds) and an average price target of $203, though several firms recently trimmed their targets.
Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 107,500 shares of the firm's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $142.18, for a total value of $15,284,350.00. Following the completion of the sale, the insider directly owned 105,049 shares of the company's stock, valued at $14,935,866.82. The trade was a 50.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
Workday Stock Performance
WDAY stock traded down $2.84 during trading on Friday, reaching $131.30. The company had a trading volume of 1,462,405 shares, compared to its average volume of 5,164,569. The company has a market cap of $34.53 billion, a price-to-earnings ratio of 50.93, a price-to-earnings-growth ratio of 1.34 and a beta of 1.16. Workday, Inc. has a twelve month low of $117.76 and a twelve month high of $276.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.83 and a current ratio of 1.32. The firm has a 50-day simple moving average of $166.12 and a 200-day simple moving average of $206.73.
Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, topping the consensus estimate of $2.32 by $0.15. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a net margin of 7.26% and a return on equity of 13.37%. During the same period in the previous year, the firm posted $1.92 earnings per share. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, sell-side analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. Meadowbrook Advisors Group LLC purchased a new position in shares of Workday during the 4th quarter valued at approximately $320,000. Larry Mathis Financial Planning LLC purchased a new stake in Workday during the fourth quarter worth $216,000. Green Ridge Wealth Planning LLC acquired a new stake in Workday during the fourth quarter valued at $237,000. Auto Owners Insurance Co grew its position in Workday by 25,412.8% during the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker's stock valued at $2,197,332,000 after buying an additional 10,190,516 shares during the period. Finally, Reflection Asset Management purchased a new position in Workday in the fourth quarter valued at $66,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on WDAY shares. KeyCorp cut their price objective on Workday from $260.00 to $155.00 and set an "overweight" rating on the stock in a report on Wednesday, February 25th. Guggenheim decreased their target price on Workday from $285.00 to $275.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. Rosenblatt Securities cut their price target on shares of Workday from $180.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, February 25th. Wall Street Zen lowered shares of Workday from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 28th. Finally, Citizens Jmp cut shares of Workday from an "outperform" rating to a "market perform" rating in a research note on Wednesday, February 18th. Twenty research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Workday presently has an average rating of "Moderate Buy" and an average price target of $203.00.
Read Our Latest Research Report on Workday
Workday Company Profile
(
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.
Further Reading
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