Key Points
- David Duffield, a major Workday shareholder, sold 107,500 shares on April 9 at an average of $112.33 for a total of about $12.08 million, cutting his stake by 50.58% to 105,049 shares; the trade was made under a pre-arranged Rule 10b5-1 plan and was disclosed to the SEC.
- Workday shares opened at $119.92, with a one-year range of $110.36–$276.00 and moving averages of 50-day $137.44 vs 200-day $190.50, reflecting recent weakness from the prior highs.
- Analysts have mixed updates but a consensus of "Moderate Buy" with an average target of $199.71, while institutional investors own about 89.81% of the company, led by large stakes from Vanguard, Auto Owners and Janus Henderson.
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 Thursday, April 9th. The stock was sold at an average price of $112.33, for a total transaction of $12,075,475.00. Following the completion of the transaction, the insider directly owned 105,049 shares of the company's stock, valued at approximately $11,800,154.17. This trade represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Workday Trading Up 6.6%
Shares of WDAY stock opened at $119.92 on Tuesday. The stock has a market capitalization of $30.82 billion, a price-to-earnings ratio of 46.48, a PEG ratio of 1.09 and a beta of 1.14. The company's fifty day simple moving average is $137.44 and its two-hundred day simple moving average is $190.50. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $276.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32.
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, topping analysts' consensus estimates of $2.32 by $0.15. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. Workday had a return on equity of 13.37% and a net margin of 7.26%.The business's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period last year, the company earned $1.92 earnings per share. As a group, analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.
Institutional Trading of Workday
A number of large investors have recently modified their holdings of the business. Auto Owners Insurance Co grew its holdings in shares of 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 worth $2,197,332,000 after purchasing an additional 10,190,516 shares in the last quarter. Vanguard Group Inc. raised its stake in Workday by 14.7% in the fourth quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker's stock valued at $5,371,495,000 after purchasing an additional 3,210,232 shares in the last quarter. Janus Henderson Group PLC raised its stake in Workday by 101.4% in the fourth quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker's stock valued at $1,077,537,000 after purchasing an additional 2,525,821 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in Workday during the third quarter valued at approximately $556,252,000. Finally, Norges Bank bought a new stake in Workday during the fourth quarter valued at approximately $448,804,000. Institutional investors own 89.81% of the company's stock.
Analysts Set New Price Targets
A number of research firms have weighed in on WDAY. Barclays reduced their target price on Workday from $230.00 to $200.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Citizens Jmp lowered shares of Workday from an "outperform" rating to a "market perform" rating in a research report on Wednesday, February 18th. Piper Sandler reduced their price objective on shares of Workday from $200.00 to $135.00 and set a "neutral" rating for the company in a research note on Wednesday, February 25th. Evercore lowered shares of Workday from an "outperform" rating to an "in-line" rating and set a $160.00 target price on the stock. in a report on Wednesday, February 25th. Finally, Wall Street Zen upgraded shares of Workday from a "hold" rating to a "buy" rating in a research note on Saturday, March 28th. Nineteen investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $199.71.
Read Our Latest Report on WDAY
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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