Key Points
- Major shareholder David Duffield sold 100,780 Workday shares for approximately $18.7 million under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 48.96% to 105,049 shares.
- Workday reported quarterly earnings of $2.75 per share, exceeding estimates of $2.61, while revenue rose 12.8% year over year to $2.65 billion.
- Analyst sentiment remains mixed: Workday has a consensus “Hold” rating and an average price target of $206.34, while institutional investors own 89.81% of the company.
Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 100,780 shares of the company's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $185.64, for a total transaction of $18,708,799.20. Following the completion of the sale, the insider owned 105,049 shares of the company's stock, valued at $19,501,296.36. This represents a 48.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 Trading Up 4.6%
Workday stock opened at $194.21 on Tuesday. Workday, Inc. has a one year low of $110.36 and a one year high of $249.85. The company's fifty day moving average price is $172.97 and its two-hundred day moving average price is $144.79. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $46.80 billion, a price-to-earnings ratio of 39.39, a PEG ratio of 1.87 and a beta of 1.08.
Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, topping analysts' consensus estimates of $2.61 by $0.14. The company had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%.The business's quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.21 earnings per share. On average, analysts forecast that Workday, Inc. will post 5.3 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the business. DT Investment Partners LLC acquired a new stake in shares of Workday in the fourth quarter worth $27,000. Lloyd Advisory Services LLC. bought a new position in Workday during the fourth quarter worth $47,000. Western Wealth Management LLC bought a new position in Workday during the first quarter worth $39,000. Reflection Asset Management acquired a new position in Workday during the 4th quarter valued at $66,000. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new position in Workday during the 4th quarter valued at $74,000. 89.81% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on WDAY. William Blair reaffirmed an "outperform" rating on shares of Workday in a research report on Friday, August 28th. The Goldman Sachs Group lifted their price target on shares of Workday from $151.00 to $164.00 and gave the company a "neutral" rating in a research report on Monday, August 31st. Bank of America boosted their price objective on shares of Workday from $140.00 to $205.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 19th. Wells Fargo & Company raised their target price on shares of Workday from $215.00 to $225.00 and gave the company an "overweight" rating in a research note on Friday, August 28th. Finally, Capital One Financial set a $219.00 target price on shares of Workday and gave the stock an "equal weight" rating in a report on Friday, August 28th. Twenty analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Workday presently has a consensus rating of "Hold" and an average price target of $206.34.
Read Our Latest Research Report on Workday
About Workday
(
Get Free Report)
Workday, Inc develops cloud-based enterprise software designed to help organizations manage finance, human resources and related business operations. Its platform provides tools for financial management, accounting, procurement, expenses, payroll, workforce management, recruiting, talent management, employee experience and enterprise planning.
The company also offers analytics, reporting and artificial intelligence capabilities that support budgeting, forecasting, workforce planning and business decision-making.
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