Key Points
- David Duffield, a major Workday shareholder, sold 107,500 shares on March 31 at an average price of $129.76 for about $13.95M, cutting his stake by 50.58% to 105,049 shares; the sale was executed under a pre-arranged Rule 10b5-1 plan and disclosed in an SEC filing.
- Workday recently beat quarterly EPS estimates ($2.47 vs. $2.32) with revenue up 14.5% year-over-year, and analysts maintain a consensus “Moderate Buy” rating with a $199.71 average price target amid mixed individual price-target revisions.
Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 107,500 shares of the business's stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $129.76, for a total transaction of $13,949,200.00. Following the transaction, the insider directly owned 105,049 shares in the company, valued at $13,631,158.24. The trade was a 50.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Workday Stock Up 2.5%
WDAY stock opened at $132.26 on Friday. The company has a 50 day moving average of $145.99 and a two-hundred day moving average of $196.59. The company has a market cap of $33.99 billion, a price-to-earnings ratio of 51.26, a PEG ratio of 1.25 and a beta of 1.14. Workday, Inc. has a 12-month low of $117.76 and a 12-month high of $276.00. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38.
Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $2.52 billion. During the same period in the previous year, the company posted $1.92 EPS. Workday's revenue was up 14.5% on a year-over-year basis. On average, equities analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
WDAY has been the topic of several research reports. Stifel Nicolaus set a $175.00 target price on Workday in a research report on Monday, February 9th. Oppenheimer lowered their price target on Workday from $200.00 to $165.00 and set an "outperform" rating for the company in a research note on Wednesday, February 25th. DA Davidson dropped their price objective on Workday from $250.00 to $125.00 and set a "neutral" rating on the stock in a report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Workday from $265.00 to $190.00 and set a "buy" rating for the company in a research note on Wednesday, February 18th. Finally, Sanford C. Bernstein decreased their target price on shares of Workday from $298.00 to $214.00 and set an "outperform" rating for the company in a research report on Wednesday, February 25th. Nineteen investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Workday currently has a consensus rating of "Moderate Buy" and a consensus price target of $199.71.
Get Our Latest Research Report on Workday
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Stance Capital LLC raised its holdings in Workday by 3.7% in the 4th quarter. Stance Capital LLC now owns 6,238 shares of the software maker's stock worth $1,340,000 after acquiring an additional 223 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in Workday by 12.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 178,827 shares of the software maker's stock valued at $38,408,000 after acquiring an additional 20,016 shares during the period. Meadowbrook Advisors Group LLC acquired a new stake in shares of Workday in the fourth quarter valued at about $320,000. Larry Mathis Financial Planning LLC acquired a new stake in shares of Workday in the fourth quarter valued at about $216,000. Finally, Green Ridge Wealth Planning LLC bought a new position in shares of Workday in the fourth quarter worth about $237,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.
Workday Company Profile
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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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