David Duffield Sells 94,089 Shares of Workday (NASDAQ:WDAY) Stock

Key Points

• Major shareholder David Duffield sold 94,089 Workday shares for approximately $18.3 million under a pre-arranged Rule 10b5-1 trading plan, reducing his direct stake by 47.25% to 105,049 shares.
• Workday reported stronger-than-expected quarterly results, with EPS of $2.75 versus the $2.61 consensus estimate and revenue of $2.65 billion, up 12.8% year over year.
• Analyst sentiment remains mixed but leans positive: 20 analysts rate the stock Buy, 18 Hold, and two Sell, producing an overall “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 the company's stock in a transaction on Friday, September 18th. The stock was sold at an average price of $194.69, for a total transaction of $18,318,187.41. Following the completion of the transaction, the insider directly owned 105,049 shares of the company's stock, valued at $20,451,989.81. This represents a 47.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 shares are required to disclose their sales and purchases with the SEC.

Workday Price Performance

Shares of NASDAQ WDAY traded down $1.95 during mid-day trading on Monday, reaching $191.92. The company's stock had a trading volume of 2,023,398 shares, compared to its average volume of 3,591,195. The stock has a fifty day moving average of $178.17 and a two-hundred day moving average of $146.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85. The firm has a market capitalization of $46.25 billion, a PE ratio of 38.93, a P/E/G ratio of 1.96 and a beta of 1.08.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 earnings per share (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 period last year, the firm posted $2.21 EPS. The company's revenue was up 12.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Workday, Inc. will post 5.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Stifel Nicolaus upped their target price on Workday from $115.00 to $160.00 and gave the stock a "hold" rating in a report on Friday, August 28th. Needham & Company LLC lifted their price objective on Workday from $180.00 to $230.00 and gave the company a "buy" rating in a report on Friday, August 28th. Weiss Ratings raised shares of Workday from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday. Wall Street Zen upgraded shares of Workday from a "hold" rating to a "buy" rating in a report on Saturday, September 5th. Finally, Dbs Bank raised shares of Workday to a "hold" rating in a research report on Wednesday, September 9th. Twenty 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $206.34.

Institutional Investors Weigh In On Workday

Large investors have recently bought and sold shares of the company. Auto Owners Insurance Co boosted its holdings in shares of Workday by 25,412.8% in the 4th quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker's stock valued at $2,197,332,000 after acquiring an additional 10,190,516 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Workday by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker's stock worth $1,089,970,000 after purchasing an additional 75,922 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Workday by 101.4% during the fourth quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker's stock worth $1,077,537,000 after purchasing an additional 2,525,821 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in Workday by 8.7% during the first quarter. Pictet Asset Management Holding SA now owns 2,803,568 shares of the software maker's stock valued at $364,217,000 after purchasing an additional 223,493 shares during the period. Finally, Norges Bank acquired a new position in Workday during the fourth quarter valued at $448,804,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Workday Company Profile

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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