Key Points
- Major shareholder David Duffield sold 107,500 Workday shares on June 22 at an average price of $114.25, for proceeds of about $12.28 million. The sale cut his ownership by more than 50% and was made under a pre-arranged Rule 10b5-1 plan.
- Workday recently beat quarterly expectations, reporting EPS of $2.66 versus the $2.51 consensus and revenue of $2.54 billion, up 13.5% year over year. Analysts now expect the company to earn $5.34 per share for the current fiscal year.
- Wall Street remains mostly constructive on WDAY despite mixed views, with a consensus rating of “Moderate Buy” and an average price target of $185.03. Recent calls included buy ratings from BTIG and Barclays, though Weiss Ratings reiterated a sell rating.
Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 107,500 shares of the firm's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $114.25, for a total value of $12,281,875.00. Following the sale, the insider owned 105,049 shares in the company, valued at $12,001,848.25. This trade represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
Workday Price Performance
Shares of Workday stock opened at $118.10 on Thursday. The firm has a market cap of $29.17 billion, a PE ratio of 36.91, a P/E/G ratio of 1.23 and a beta of 1.09. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $249.85. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $127.54 and a 200 day moving average price of $154.06.
Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the business posted $2.23 earnings per share. Workday's revenue for the quarter was up 13.5% on a year-over-year basis. Sell-side analysts predict that Workday, Inc. will post 5.34 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Workday
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rakuten Securities Inc. purchased a new position in Workday during the second quarter worth approximately $25,000. Measured Wealth Private Client Group LLC purchased a new stake in Workday in the 3rd quarter valued at $26,000. DT Investment Partners LLC acquired a new stake in shares of Workday in the 4th quarter worth $27,000. LRI Investments LLC acquired a new stake in shares of Workday in the 4th quarter worth $29,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Workday during the 3rd quarter worth $30,000. Institutional investors and hedge funds own 89.81% of the company's stock.
Wall Street Analyst Weigh In
WDAY has been the subject of several recent analyst reports. BTIG Research reissued a "buy" rating and issued a $175.00 price target on shares of Workday in a report on Monday, May 18th. Barclays upgraded shares of Workday from an "overweight" rating to a "buy" rating in a research report on Friday, May 22nd. Mizuho reduced their price target on shares of Workday from $275.00 to $210.00 and set an "outperform" rating for the company in a research report on Wednesday, February 25th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Workday in a research note on Wednesday, June 17th. Finally, Oppenheimer reiterated an "outperform" rating on shares of Workday in a research note on Thursday, June 11th. 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 issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $185.03.
View Our Latest Research 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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
