Workday (NASDAQ:WDAY) Major Shareholder Sells 99,613 Shares of Company Stock

by · The Cerbat Gem

Workday, Inc. (NASDAQ:WDAY – Get Free Report) major shareholder David Duffield sold 99,613 shares of the company’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $192.14, for a total transaction of $19,139,641.82. Following the completion of the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $20,184,114.86. The trade was a 48.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Price Performance

NASDAQ:WDAY traded down $1.39 during trading hours on Thursday, hitting $190.99. 1,248,858 shares of the company’s stock traded hands, compared to its average volume of 3,461,461. The firm has a market cap of $46.03 billion, a P/E ratio of 38.74, a P/E/G ratio of 1.90 and a beta of 1.08. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85. The business’s fifty day simple moving average is $181.06 and its two-hundred day simple moving average is $147.67. 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 posted its earnings results on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, topping the consensus estimate of $2.61 by $0.14. The business 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 firm’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 earnings per share. On average, research analysts anticipate that Workday, Inc. will post 5.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WDAY. Plato Investment Management Ltd bought a new position in Workday during the 2nd quarter worth approximately $1,115,000. Norges Bank bought a new stake in Workday in the fourth quarter valued at approximately $448,804,000. S&CO Inc. bought a new stake in Workday in the second quarter valued at approximately $2,284,000. Harvest Fund Management Co. Ltd boosted its stake in shares of Workday by 40.1% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock valued at $11,943,000 after purchasing an additional 15,903 shares during the period. Finally, Sapient Capital LLC purchased a new stake in shares of Workday during the second quarter valued at approximately $13,045,000. 89.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Canaccord Genuity Group boosted their price target on shares of Workday from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, August 25th. Piper Sandler raised their price objective on shares of Workday from $145.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, August 28th. Weiss Ratings raised shares of Workday from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 18th. Barclays upped their target price on shares of Workday from $200.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, August 28th. Finally, Bank of America increased their target price on Workday from $140.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday, August 19th. 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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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