Key Points
- David Duffield sold 107,500 Workday shares on March 23 at an average price of $136.82 (≈$14.71M), leaving him with 105,049 shares — a reported 50.58% reduction in his direct ownership, per an SEC filing.
- Workday recently beat estimates with EPS of $2.47 versus $2.32 and revenue of $2.53B (up 14.5% year-over-year), and the company has a market capitalization of about $32.66 billion.
- Several analysts have cut price targets (e.g., Deutsche Bank, Wells Fargo, TD Cowen), but the consensus remains a "Moderate Buy" with an average target around $199.71, and roughly 89.8% of the stock is held by institutional investors.
Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 107,500 shares of the firm's stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $136.82, for a total transaction of $14,708,150.00. Following the completion of the sale, the insider directly owned 105,049 shares in the company, valued at $14,372,804.18. This represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Workday Stock Performance
Shares of WDAY stock opened at $127.07 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market capitalization of $32.66 billion, a price-to-earnings ratio of 49.25, a price-to-earnings-growth ratio of 1.26 and a beta of 1.16. Workday, Inc. has a one year low of $117.76 and a one year high of $276.00. The company has a 50 day moving average price of $152.96 and a 200 day moving average price of $200.53.
Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.15. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 7.26% and a return on equity of 13.37%. Workday's revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the business earned $1.92 EPS. Sell-side analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.
Analysts Set New Price Targets
WDAY has been the subject of a number of research reports. Citizens Jmp downgraded Workday from an "outperform" rating to a "market perform" rating in a research report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft cut their price objective on Workday from $265.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday, February 18th. Wells Fargo & Company reduced their price objective on Workday from $255.00 to $180.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 25th. TD Cowen cut Workday from a "buy" rating to a "hold" rating and set a $155.00 target price for the company. in a report on Wednesday, February 25th. Finally, Robert W. Baird set a $195.00 target price on shares of Workday in a research report on Tuesday, February 24th. Nineteen equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Workday presently has an average rating of "Moderate Buy" and an average target price of $199.71.
Read Our Latest Analysis on Workday
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. acquired a new position in shares of Workday during the second quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Workday in the third quarter valued at about $26,000. JPL Wealth Management LLC purchased a new stake in shares of Workday during the 3rd quarter valued at about $30,000. DT Investment Partners LLC purchased a new stake in shares of Workday during the 4th quarter valued at about $27,000. Finally, Berbice Capital Management LLC lifted its position in Workday by 136.4% during the 2nd quarter. Berbice Capital Management LLC now owns 130 shares of the software maker's stock worth $31,000 after acquiring an additional 75 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.
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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