Key Points
- Workday major shareholder David Duffield sold 107,500 shares on June 30 at an average price of $122.04, totaling about $13.1 million. After the sale, he still held 105,049 shares, and the transaction was made under a pre-arranged Rule 10b5-1 plan.
- Workday recently beat quarterly earnings expectations, reporting $2.66 EPS 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 EPS for the current fiscal year.
- Analyst sentiment remains mixed but constructive, with MarketBeat reporting a consensus rating of “Moderate Buy” and an average target price of $184.00. Meanwhile, institutional ownership remains high at 89.81% of the stock.
Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 107,500 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $122.04, for a total value of $13,119,300.00. Following the completion of the sale, the insider directly owned 105,049 shares in the company, valued at approximately $12,820,179.96. This represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 shares are required to disclose their transactions with the SEC.
Workday Price Performance
Shares of NASDAQ:WDAY opened at $130.27 on Thursday. The business has a fifty day moving average price of $127.46 and a 200-day moving average price of $150.57. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $32.18 billion, a PE ratio of 40.71, a PEG ratio of 1.31 and a beta of 1.11. Workday, Inc. has a 1-year low of $110.36 and a 1-year high of $249.85.
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, topping analysts' consensus estimates of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company had revenue of $2.54 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the previous year, the business posted $2.23 EPS. Workday's revenue was up 13.5% compared to the same quarter last year. As a group, equities analysts expect that Workday, Inc. will post 5.34 EPS for the current fiscal year.
Institutional Trading of Workday
Hedge funds have recently bought and sold shares of the company. Auto Owners Insurance Co lifted its holdings in Workday by 25,412.8% in the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker's stock valued at $2,197,332,000 after acquiring an additional 10,190,516 shares during the period. Vanguard Group Inc. grew its stake in shares of Workday by 14.7% during the 4th 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 during the period. Janus Henderson Group PLC increased its position in shares of Workday by 101.4% during the 4th 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 during the last quarter. First Eagle Investment Management LLC purchased a new stake in Workday during the third quarter valued at approximately $556,252,000. Finally, Norges Bank purchased a new position in shares of Workday during the 4th quarter worth $448,804,000. Hedge funds and other institutional investors own 89.81% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on WDAY. Jefferies Financial Group upped their target price on shares of Workday from $115.00 to $140.00 and gave the stock a "hold" rating in a research note on Friday, May 22nd. DA Davidson set a $135.00 price objective on shares of Workday in a report on Tuesday, May 26th. Wolfe Research restated an "outperform" rating and issued a $160.00 price objective on shares of Workday in a report on Friday, May 22nd. Citigroup reaffirmed a "market perform" rating on shares of Workday in a research report on Friday, May 22nd. Finally, The Goldman Sachs Group reduced their target price on Workday from $206.00 to $151.00 and set a "neutral" rating for the company in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $184.00.
Read Our Latest Analysis 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
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