Insider Selling: Workday (NASDAQ:WDAY) Major Shareholder Sells $19,139,641.82 in Stock

Key Points

• Major shareholder David Duffield sold 99,613 Workday shares for approximately $19.14 million under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 48.67% to 105,049 shares.
• Workday shares fell 0.7% to $190.99, while the company reported quarterly revenue of $2.65 billion and adjusted earnings of $2.75 per share, exceeding analyst expectations.
• Analyst sentiment is mixed but generally constructive: Workday has a consensus “Hold” rating and an average price target of $206.34, while institutional investors own about 89.81% of the stock.

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 99,613 shares of the business's stock in a transaction dated 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 transaction, the insider owned 105,049 shares in the company, valued at approximately $20,184,114.86. This trade represents a 48.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Workday Stock Down 0.7%

NASDAQ:WDAY traded down $1.39 on Thursday, hitting $190.99. The stock had a trading volume of 1,248,858 shares, compared to its average volume of 3,461,461. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $46.03 billion, a P/E ratio of 38.74, a price-to-earnings-growth ratio of 1.90 and a beta of 1.08. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85. The firm's fifty day simple moving average is $181.06 and its two-hundred day simple moving average is $147.67.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, topping analysts' consensus estimates of $2.61 by $0.14. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%.The company's revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.21 EPS. Analysts predict that Workday, Inc. will post 5.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on WDAY shares. Cantor Fitzgerald reduced their price objective on Workday from $220.00 to $205.00 and set an "overweight" rating for the company in a research note on Friday, August 28th. Barclays lifted their target price on Workday from $200.00 to $224.00 and gave the stock an "overweight" rating in a research note on Friday, August 28th. Lake Street Capital set a $205.00 price target on shares of Workday in a report on Friday, August 14th. HC Wainwright set a $140.00 price target on shares of Workday in a research report on Wednesday, May 27th. Finally, KeyCorp raised their price objective on shares of Workday from $158.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, August 28th. Twenty investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $206.34.

Institutional Investors Weigh In On Workday

Several large investors have recently added to or reduced their stakes in WDAY. MassMutual Private Wealth & Trust FSB increased its position in shares of Workday by 10.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,004 shares of the software maker's stock valued at $123,000 after buying an additional 96 shares during the period. 180 Wealth Advisors LLC boosted its position in shares of Workday by 5.6% in the second 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 period. Parkside Financial Bank & Trust boosted its position 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 valued at $72,000 after acquiring an additional 123 shares during the period. DT Investment Partners LLC purchased a new position in Workday during the fourth quarter valued at approximately $27,000. Finally, Ashton Thomas Securities LLC grew its stake in Workday by 6.2% during the first quarter. Ashton Thomas Securities LLC now owns 2,206 shares of the software maker's stock valued at $287,000 after acquiring an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

About Workday

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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