Insider Selling: Workday (NASDAQ:WDAY) Major Shareholder Sells 107,500 Shares of Stock

Key Points

• David Duffield, a major shareholder, sold 107,500 shares of Workday at an average price of $112.33 for about $12.08 million under a pre-arranged Rule 10b5-1 plan, cutting his stake by 50.58% to 105,049 shares (≈$11.8M).
• WDAY traded up about 6.6% to $119.92 on Monday with roughly 5.67M shares changing hands; the company has a market cap of $30.82 billion, a P/E of 46.48, and a 12‑month range of $110.36–$276.00.
• While several analysts recently trimmed price targets, the consensus rating is a Moderate Buy with an average target of $199.71, and institutional investors own about 89.81% of the stock, led by large positions from Vanguard and other funds.

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 107,500 shares of the company's stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $112.33, for a total value of $12,075,475.00. Following the completion of the sale, the insider owned 105,049 shares of the company's stock, valued at $11,800,154.17. This represents a 50.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Workday Stock Up 6.6%

WDAY stock traded up $7.42 during trading on Monday, reaching $119.92. 5,672,701 shares of the company traded hands, compared to its average volume of 5,177,964. The company has a market capitalization of $30.82 billion, a price-to-earnings ratio of 46.48, a price-to-earnings-growth ratio of 1.09 and a beta of 1.14. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. The business has a 50 day simple moving average of $138.51 and a 200 day simple moving average of $191.37. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $276.00.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.15. Workday had a return on equity of 13.37% and a net margin of 7.26%.The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the company posted $1.92 EPS. The firm's quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WDAY. DA Davidson cut their price target on Workday from $250.00 to $125.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 25th. Rosenblatt Securities decreased their price objective on Workday from $180.00 to $150.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. Jefferies Financial Group lowered Workday from a "buy" rating to a "hold" rating and dropped their target price for the stock from $325.00 to $150.00 in a report on Monday, February 23rd. UBS Group reduced their price target on Workday from $170.00 to $130.00 and set a "neutral" rating for the company in a research report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. lowered their price objective on Workday from $270.00 to $230.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 24th. Nineteen equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $199.71.

Institutional Trading of Workday

Hedge funds have recently bought and sold shares of the business. Auto Owners Insurance Co raised its holdings in shares of Workday by 25,412.8% during the 4th quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker's stock worth $2,197,332,000 after acquiring an additional 10,190,516 shares during the period. Vanguard Group Inc. increased its position in Workday by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker's stock worth $5,371,495,000 after purchasing an additional 3,210,232 shares during the last quarter. Janus Henderson Group PLC increased its position in 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. First Eagle Investment Management LLC purchased a new position in Workday during the third quarter worth about $556,252,000. Finally, Norges Bank acquired a new position in Workday in the 4th quarter valued at about $448,804,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Company Profile

Workday, Inc NASDAQ: WDAY is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday's platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company's product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.