Key Points
- Major shareholder David Duffield sold 98,446 Workday shares for approximately $18.4 million at an average price of $187.07, reducing his ownership by 48.38%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Workday reported quarterly EPS of $2.75, beating estimates of $2.61, while revenue rose 12.8% year over year to $2.65 billion. The stock opened at $188.96, with a market capitalization of approximately $45.5 billion.
- Analyst sentiment is mixed, with Workday holding a consensus “Hold” rating and an average price target of $206.34. Institutional investors and hedge funds own approximately 89.81% of the company’s outstanding shares.
Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 98,446 shares of the company's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $187.07, for a total transaction of $18,416,293.22. Following the transaction, the insider owned 105,049 shares of the company's stock, valued at approximately $19,651,516.43. The trade was a 48.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Workday Stock Performance
NASDAQ WDAY opened at $188.96 on Tuesday. The company's fifty day moving average is $187.92 and its two-hundred day moving average is $150.17. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $247.40. 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 firm has a market capitalization of $45.54 billion, a price-to-earnings ratio of 38.33, a P/E/G ratio of 1.87 and a beta of 1.07.
Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 EPS 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 during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the business earned $2.21 earnings per share. The firm's revenue for the quarter was up 12.8% on a year-over-year basis. Equities research analysts forecast that Workday, Inc. will post 5.33 EPS for the current year.
Institutional Trading of Workday
Several institutional investors have recently bought and sold shares of the stock. Baker Tilly Wealth Management LLC raised its position in Workday by 5.5% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 1,791 shares of the software maker's stock worth $341,000 after buying an additional 93 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Workday by 10.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,004 shares of the software maker's stock valued at $123,000 after acquiring an additional 96 shares during the last quarter. 180 Wealth Advisors LLC boosted its holdings in shares of Workday by 5.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 1,960 shares of the software maker's stock valued at $240,000 after acquiring an additional 104 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Workday by 26.3% in the second quarter. Parkside Financial Bank & Trust now owns 591 shares of the software maker's stock worth $72,000 after acquiring an additional 123 shares during the period. Finally, Ashton Thomas Securities LLC grew its stake in shares of Workday by 6.2% in the first quarter. Ashton Thomas Securities LLC now owns 2,206 shares of the software maker's stock worth $287,000 after acquiring an additional 128 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have commented on the company. Stifel Nicolaus raised their price objective on Workday from $115.00 to $160.00 and gave the stock a "hold" rating in a research report on Friday, August 28th. Sanford C. Bernstein upped their target price on Workday from $216.00 to $238.00 and gave the company an "outperform" rating in a research note on Friday, August 28th. Freedom Broker cut Workday from a "buy" rating to a "hold" rating and raised their target price for the stock from $180.00 to $200.00 in a research report on Friday, August 28th. Weiss Ratings upgraded shares of Workday from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, September 18th. Finally, The Goldman Sachs Group boosted their price target on shares of Workday from $151.00 to $164.00 and gave the company a "neutral" rating in a report on Monday, August 31st. Twenty equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Workday has a consensus rating of "Hold" and an average target price of $206.34.
Check Out Our Latest Research Report on WDAY
Workday Company Profile
(
Get Free Report)
Workday, Inc develops cloud-based enterprise software for managing an organization's people, finances and operations. Its platform is primarily used by businesses, government agencies and educational institutions to support human resources, finance, planning, analytics and related administrative processes.
The company's offerings include Workday Human Capital Management, Financial Management, Adaptive Planning, Spend Management, payroll, recruiting, talent management, learning and workforce analytics.
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