Key Points
- Major shareholder David Duffield sold 94,089 Workday shares at an average price of $194.69, generating approximately $18.3 million. The Rule 10b5-1 transaction reduced his ownership by 47.25% to 105,049 shares.
- Workday reported quarterly adjusted earnings of $2.75 per share, exceeding estimates by $0.14, while revenue rose 12.8% year over year to $2.65 billion.
- Analyst sentiment is mixed: 20 analysts rate the stock a Buy, 18 a Hold and two a Sell, producing a consensus “Hold” rating and an average price target of $206.34.
Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 94,089 shares of Workday stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $194.69, for a total transaction of $18,318,187.41. Following the completion of the sale, the insider owned 105,049 shares of the company's stock, valued at $20,451,989.81. This trade represents a 47.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 more than 10% of a company's shares are required to disclose their transactions with the SEC.
Workday Stock Performance
Shares of WDAY opened at $191.92 on Tuesday. The company's fifty day moving average is $178.17 and its 200-day moving average is $146.76. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $249.85. The firm has a market cap of $46.25 billion, a price-to-earnings ratio of 38.93, a price-to-earnings-growth ratio of 1.96 and a beta of 1.08. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31.
Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, beating analysts' consensus estimates of $2.61 by $0.14. Workday had a net margin of 12.32% and a return on equity of 20.95%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter last year, the firm earned $2.21 EPS. Workday's revenue for the quarter was up 12.8% on a year-over-year basis. Equities analysts expect that Workday, Inc. will post 5.3 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have weighed in on WDAY. Sanford C. Bernstein boosted their price target on Workday from $216.00 to $238.00 and gave the stock an "outperform" rating in a research report on Friday, August 28th. UBS Group set a $230.00 price objective on Workday in a report on Friday, August 28th. CLSA started coverage on Workday in a research note on Monday, July 20th. They issued an "underperform" rating and a $92.00 price objective on the stock. Lake Street Capital set a $205.00 target price on Workday in a report on Friday, August 14th. Finally, Needham & Company LLC upped their target price on Workday from $180.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, August 28th. Twenty analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $206.34.
Check Out Our Latest Stock Report on WDAY
Hedge Funds Weigh In On Workday
Large investors have recently made changes to their positions in the business. DT Investment Partners LLC acquired a new stake in Workday in the 4th quarter valued at approximately $27,000. Western Wealth Management LLC acquired a new position in shares of Workday during the first quarter worth approximately $39,000. Manning & Napier Advisors LLC acquired a new position in shares of Workday during the second quarter worth approximately $42,000. Lloyd Advisory Services LLC. bought a new stake in shares of Workday in the fourth quarter valued at approximately $47,000. Finally, Elevation Wealth Partners LLC boosted its position in shares of Workday by 1,097.0% in the second quarter. Elevation Wealth Partners LLC now owns 395 shares of the software maker's stock valued at $48,000 after acquiring an additional 362 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.
Workday Company Profile
(
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
