Key Points
- Major shareholder David Duffield sold 107,500 Workday shares on July 9 at an average price of $136.74, a transaction worth about $14.7 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan and cut his direct stake by more than 50%.
- Workday reported stronger-than-expected quarterly results, posting EPS of $2.66 versus estimates of $2.51 and revenue of $2.54 billion versus $2.52 billion expected. Revenue rose 13.5% year over year, and analysts now forecast full-year EPS of 5.34.
- Analyst sentiment remains constructive, with a consensus rating of “Moderate Buy” and an average price target of $184.00. Several firms recently maintained or raised ratings, even as insider selling may add some caution.
Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 107,500 shares of the firm's stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $136.74, for a total transaction of $14,699,550.00. Following the completion of the transaction, the insider directly owned 105,049 shares in the company, valued at $14,364,400.26. 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 through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
Workday Stock Up 4.3%
NASDAQ:WDAY opened at $144.87 on Tuesday. The firm has a market capitalization of $35.78 billion, a PE ratio of 45.27, a price-to-earnings-growth ratio of 1.49 and a beta of 1.11. The stock has a 50 day moving average of $130.23 and a 200-day moving average of $146.14. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.
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 for the quarter, topping analysts' consensus estimates of $2.51 by $0.15. The business had revenue of $2.54 billion for the quarter, compared to analysts' expectations of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The business's quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.23 EPS. Analysts predict that Workday, Inc. will post 5.34 EPS for the current year.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded Workday from a "hold" rating to a "buy" rating in a research note on Saturday, March 28th. Cantor Fitzgerald restated an "overweight" rating on shares of Workday in a research report on Wednesday, June 17th. Jefferies Financial Group increased their price objective on shares of Workday from $115.00 to $140.00 and gave the stock a "hold" rating in a report on Friday, May 22nd. Bank of America began coverage on shares of Workday in a research report on Wednesday, May 27th. They issued a "neutral" rating and a $140.00 price objective on the stock. Finally, KeyCorp boosted their target price on shares of Workday from $155.00 to $158.00 and gave the company an "overweight" rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $184.00.
Get Our Latest Stock Report on Workday
Key Headlines Impacting Workday
Here are the key news stories impacting Workday this week:
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Rakuten Securities Inc. acquired a new position in shares of Workday during the second quarter valued at $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Workday during the third quarter valued at about $26,000. JPL Wealth Management LLC acquired a new stake in Workday in the third quarter worth about $30,000. DT Investment Partners LLC acquired a new stake in Workday in the fourth quarter worth about $27,000. Finally, LRI Investments LLC bought a new position in Workday in the 4th quarter valued at about $29,000. Institutional investors own 89.81% of the company's stock.
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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