Key Points
- Workday major shareholder David Duffield sold 107,500 shares for about $12.4 million at an average price of $115.60, cutting his direct ownership by more than 50%. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Workday reported strong quarterly results, with EPS of $2.66 beating estimates and revenue of $2.54 billion topping expectations. Revenue rose 13.5% year over year, and analysts expect full-year EPS of 5.34.
- Wall Street remains constructive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $184.00. Recent analyst actions included upgrades from Barclays and Monness Crespi & Hardt, plus a higher target from Wells Fargo.
Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 107,500 shares of the company's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $115.60, for a total value of $12,427,000.00. Following the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $12,143,664.40. The trade was a 50.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 transactions with the SEC.
Workday Stock Performance
Shares of WDAY opened at $123.58 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The firm has a market cap of $30.52 billion, a PE ratio of 38.62, a P/E/G ratio of 1.33 and a beta of 1.09. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $249.85. The stock has a fifty day moving average price of $127.44 and a 200-day moving average price of $151.94.
Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, topping 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 firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the business earned $2.23 EPS. The firm's revenue for the quarter was up 13.5% on a year-over-year basis. Equities research analysts predict that Workday, Inc. will post 5.34 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Workday
Institutional investors and hedge funds have recently modified their holdings of the company. First Eagle Investment Management LLC acquired a new stake in Workday during the 3rd quarter valued at approximately $556,252,000. Norges Bank acquired a new stake in shares of Workday in the fourth quarter worth $448,804,000. Harvest Fund Management Co. Ltd raised its holdings in shares of Workday by 40.1% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker's stock worth $11,943,000 after purchasing an additional 15,903 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Workday by 18.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker's stock valued at $122,804,000 after purchasing an additional 88,384 shares during the period. Finally, Morningstar Investment Management LLC boosted its holdings in Workday by 127.2% in the fourth quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker's stock valued at $5,808,000 after purchasing an additional 15,138 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. HC Wainwright set a $140.00 price target on Workday in a research note on Wednesday, May 27th. Barclays raised shares of Workday from an "overweight" rating to a "buy" rating in a research report on Friday, May 22nd. BMO Capital Markets reissued an "outperform" rating on shares of Workday in a research report on Friday, May 22nd. Wells Fargo & Company upped their price target on shares of Workday from $180.00 to $185.00 and gave the company an "overweight" rating in a research note on Friday, May 22nd. Finally, Monness Crespi & Hardt upgraded shares of Workday from a "neutral" rating to a "buy" rating and set a $150.00 price target on the stock in a research note on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Workday presently has a consensus rating of "Moderate Buy" and an average target price of $184.00.
Get Our Latest Stock Report on WDAY
Workday Company Profile
(
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].
