Key Points
- David Duffield sold 107,500 shares on March 18 at an average price of $132.58 for about $14.25 million, reducing his ownership by 50.58% to 105,049 shares valued near $13.93 million.
- Workday beat expectations in its Feb. 24 quarter with $2.47 EPS (vs. $2.32 est.) and $2.53B revenue (up 14.5% YoY), and analysts maintain a consensus Moderate Buy with a $199.71 target.
- Shares opened at $135.96, the company has a market cap of $34.94 billion and a 12‑month range of $117.76–$276.00, with about 89.81% institutional ownership.
Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 107,500 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $132.58, for a total transaction of $14,252,350.00. Following the completion of the transaction, the insider directly owned 105,049 shares of the company's stock, valued at $13,927,396.42. The trade was a 50.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Workday Trading Up 1.9%
Shares of Workday stock opened at $135.96 on Friday. The firm's 50 day simple moving average is $157.12 and its two-hundred day simple moving average is $202.82. The firm has a market capitalization of $34.94 billion, a price-to-earnings ratio of 52.70, a PEG ratio of 1.30 and a beta of 1.16. Workday, Inc. has a 12-month low of $117.76 and a 12-month high of $276.00. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38.
Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.15. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. Workday had a return on equity of 13.37% and a net margin of 7.26%.The firm's revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.92 EPS. Analysts predict that Workday, Inc. will post 2.63 EPS for the current year.
Hedge Funds Weigh In On Workday
Institutional investors have recently bought and sold shares of the company. Perennial Investment Advisors LLC grew its position in Workday by 2.8% in the second quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker's stock worth $418,000 after acquiring an additional 48 shares during the period. Finivi Inc. raised its holdings in Workday by 3.3% in the 3rd quarter. Finivi Inc. now owns 1,516 shares of the software maker's stock valued at $365,000 after buying an additional 48 shares during the period. Bay Harbor Wealth Management LLC lifted its position in Workday by 12.0% in the third quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker's stock valued at $110,000 after buying an additional 49 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Workday by 1.2% during the third 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 last quarter. Finally, Kingsview Wealth Management LLC raised its stake in shares of 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 period. 89.81% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on WDAY shares. Citizens Jmp cut Workday from an "outperform" rating to a "market perform" rating in a report on Wednesday, February 18th. TD Cowen downgraded shares of Workday from a "buy" rating to a "hold" rating and set a $155.00 price target on the stock. in a report on Wednesday, February 25th. Jefferies Financial Group cut shares of Workday from a "buy" rating to a "hold" rating and cut their price objective for the company from $325.00 to $150.00 in a report on Monday, February 23rd. Sanford C. Bernstein cut their price target on Workday from $298.00 to $214.00 and set an "outperform" rating for the company in a research note on Wednesday, February 25th. Finally, Rosenblatt Securities dropped their price target on shares of Workday from $180.00 to $150.00 and set a "buy" rating on the stock in a research note on Wednesday, February 25th. Nineteen research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $199.71.
View 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.
Further Reading
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