Key Points
- Workday major shareholder David Duffield sold 107,500 shares on June 9 at an average price of $138.32, totaling about $14.87 million. After the transaction, he still owned 105,049 shares, and the sale was made under a pre-arranged Rule 10b5-1 plan.
- Workday shares were down 5.0% and opened at $130.53. The stock remains well below its 52-week high of $253.54, though it has outperformed its 50-day average and sits near its 52-week low range.
- Recent earnings topped expectations, with Workday reporting EPS of $2.66 versus the $2.51 consensus and revenue of $2.54 billion, up 13.5% year over year. Analysts currently rate the stock a “Moderate Buy” with an average price target of $185.03.
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, June 9th. The shares were sold at an average price of $138.32, for a total value of $14,869,400.00. Following the sale, the insider directly owned 105,049 shares of the company's stock, valued at $14,530,377.68. This represents a 50.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 transactions with the SEC.
Workday Trading Down 5.0%
Shares of Workday stock opened at $130.53 on Friday. The business has a fifty day simple moving average of $128.07 and a two-hundred day simple moving average of $160.22. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $253.54. The company has a market capitalization of $32.24 billion, a price-to-earnings ratio of 40.79, a P/E/G ratio of 1.46 and a beta of 1.09. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01.
Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the firm posted $2.23 EPS. The company's quarterly revenue was up 13.5% on a year-over-year basis. Research analysts forecast that Workday, Inc. will post 5.4 EPS for the current year.
Analysts Set New Price Targets
Several research analysts have weighed in on WDAY shares. Jefferies Financial Group increased their price objective on Workday from $115.00 to $140.00 and gave the stock a "hold" rating in a research report on Friday, May 22nd. Summit Redstone set a $275.00 price objective on Workday in a research report on Wednesday, May 27th. Wells Fargo & Company increased their price objective on Workday from $180.00 to $185.00 and gave the stock an "overweight" rating in a research report on Friday, May 22nd. JPMorgan Chase & Co. lowered their price objective on Workday from $270.00 to $230.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 24th. Finally, KeyCorp increased their price objective on Workday from $155.00 to $158.00 and gave the stock an "overweight" rating in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $185.03.
Get Our Latest Stock Analysis on WDAY
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC increased its position in shares of Workday by 97.2% in the first quarter. NewEdge Advisors LLC now owns 10,857 shares of the software maker's stock worth $1,411,000 after purchasing an additional 5,351 shares during the period. Ramiah Investment Group increased its position in shares of Workday by 25.5% in the first quarter. Ramiah Investment Group now owns 2,356 shares of the software maker's stock worth $306,000 after purchasing an additional 479 shares during the period. Lavelle Capital LP bought a new position in shares of Workday in the first quarter worth $928,000. Allen Capital Group LLC boosted its stake in Workday by 10.7% in the first quarter. Allen Capital Group LLC now owns 15,010 shares of the software maker's stock valued at $1,950,000 after buying an additional 1,452 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new stake in Workday in the first quarter valued at about $39,000. Institutional investors own 89.81% of the company's stock.
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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