Key Points
- Major shareholder David Duffield sold 96,545 Workday shares for approximately $18.6 million at an average price of $192.28, reducing his direct ownership by 47.89% to 105,049 shares. The sale was conducted under a pre-arranged Rule 10b5-1 plan.
- Workday recently exceeded quarterly expectations, reporting $2.75 in EPS versus the $2.61 consensus and $2.65 billion in revenue, up 12.8% year over year.
- Analyst sentiment remains mixed, with an overall “Hold” consensus and an average price target of $206.34; institutional investors own approximately 89.81% of the company.
Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 96,545 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $192.28, for a total transaction of $18,563,672.60. Following the transaction, the insider directly owned 105,049 shares of the company's stock, valued at $20,198,821.72. This represents a 47.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Workday Trading Up 6.1%
Shares of WDAY stock opened at $199.28 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. The firm has a market cap of $48.03 billion, a P/E ratio of 40.42, a PEG ratio of 1.89 and a beta of 1.08. The company has a 50 day moving average of $176.13 and a 200-day moving average of $146.00. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $249.85.
Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, beating the consensus estimate of $2.61 by $0.14. Workday had a return on equity of 20.95% and a net margin of 12.32%.The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the business earned $2.21 earnings per share. Workday's revenue for the quarter was up 12.8% on a year-over-year basis. Sell-side analysts anticipate that Workday, Inc. will post 5.3 earnings per share for the current year.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the stock. DT Investment Partners LLC purchased a new position in Workday during the 4th quarter valued at about $27,000. Lloyd Advisory Services LLC. bought a new stake in shares of Workday during the fourth quarter valued at about $47,000. Western Wealth Management LLC purchased a new stake in shares of Workday in the first quarter worth about $39,000. Reflection Asset Management purchased a new stake in shares of Workday in the fourth quarter worth about $66,000. Finally, SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Workday in the fourth quarter valued at approximately $74,000. Institutional investors own 89.81% of the company's stock.
Analyst Upgrades and Downgrades
WDAY has been the topic of a number of recent research reports. BTIG Research cut Workday from a "buy" rating to a "neutral" rating in a research report on Monday, August 17th. TD Cowen decreased their price objective on Workday from $220.00 to $210.00 and set a "hold" rating for the company in a report on Friday, August 28th. KeyCorp boosted their price objective on Workday from $158.00 to $215.00 and gave the company an "overweight" rating in a research note on Friday, August 28th. Capital One Financial set a $219.00 price objective on shares of Workday and gave the company an "equal weight" rating in a report on Friday, August 28th. Finally, HC Wainwright set a $140.00 target price on shares of Workday in a research report on Wednesday, May 27th. Twenty research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $206.34.
Read Our Latest Stock 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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