Key Points
- Workday major shareholder David Duffield sold 107,500 shares on July 6 at an average price of $135.24, totaling about $14.54 million. The sale cut his direct ownership by 50.58%, and it was made under a pre-arranged Rule 10b5-1 trading plan.
- Workday stock was up 4.1% and opened at $143.65, with the company trading near its 50-day moving average but below its 200-day average. The stock remains far off its 52-week high of $249.85.
- The company recently beat quarterly expectations, reporting EPS of $2.66 versus $2.51 expected and revenue of $2.54 billion, up 13.5% year over year. Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $184.00.
Workday, Inc. (NASDAQ:WDAY - Get Free Report) insider Gerrit Kazmaier sold 2,728 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total transaction of $391,795.36. Following the completion of the sale, the insider directly owned 266,388 shares in the company, valued at approximately $38,258,644.56. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Workday Trading Up 4.1%
Shares of NASDAQ:WDAY opened at $143.65 on Wednesday. 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 company's 50-day moving average price is $128.70 and its 200 day moving average price is $148.32. The company has a market cap of $35.48 billion, a PE ratio of 44.89, a P/E/G ratio of 1.48 and a beta of 1.11. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85.
Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The firm had revenue of $2.54 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the prior year, the firm earned $2.23 EPS. Workday's quarterly revenue was up 13.5% on a year-over-year basis. Sell-side analysts anticipate that Workday, Inc. will post 5.34 earnings per share for the current year.
Hedge Funds Weigh In On Workday
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Finivi Inc. increased its position in shares of Workday by 3.3% during the 3rd quarter. Finivi Inc. now owns 1,516 shares of the software maker's stock valued at $365,000 after purchasing an additional 48 shares during the period. Strategic Investment Advisors MI boosted its stake in Workday by 1.6% during the second quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker's stock valued at $777,000 after buying an additional 50 shares in the last quarter. Sagespring Wealth Partners LLC boosted its stake in Workday by 3.0% during the fourth quarter. Sagespring Wealth Partners LLC now owns 2,052 shares of the software maker's stock valued at $441,000 after buying an additional 59 shares in the last quarter. CVA Family Office LLC boosted its stake in Workday by 35.3% during the fourth quarter. CVA Family Office LLC now owns 249 shares of the software maker's stock valued at $53,000 after buying an additional 65 shares in the last quarter. Finally, Aspire Private Capital LLC grew its holdings in Workday by 1.3% during the fourth quarter. Aspire Private Capital LLC now owns 5,560 shares of the software maker's stock worth $1,194,000 after acquiring an additional 71 shares during the period. 89.81% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
WDAY has been the topic of several analyst reports. Wolfe Research restated an "outperform" rating and issued a $160.00 target price on shares of Workday in a research report on Friday, May 22nd. Cantor Fitzgerald reiterated an "overweight" rating on shares of Workday in a research report on Wednesday, June 17th. William Blair raised Workday to a "strong-buy" rating in a research note on Friday, May 22nd. Weiss Ratings reissued a "sell (d+)" rating on shares of Workday in a report on Wednesday, June 17th. Finally, Wall Street Zen upgraded shares of Workday from a "hold" rating to a "buy" rating in a research note on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $184.00.
View Our Latest Stock Report on Workday
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.
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