Workday (NASDAQ:WDAY) Major Shareholder David Duffield Sells 107,500 Shares

Key Points

• David Duffield sold 107,500 shares on March 5 at an average price of $147.16 for about $15.82M, leaving him with 105,049 shares and a reported 50.58% reduction in his ownership (disclosed in an SEC filing).
• Workday shares traded down about 1.9% to $148.14 on Monday with ~5.46M shares changing hands; the company has a market cap near $38.96B, a P/E of ~57.4, and a one‑year range of $117.76–$276.00.
• Workday beat quarterly expectations with EPS of $2.47 (vs. $2.32 est.) and revenue of $2.53B (up 14.5% YoY), while analysts have trimmed several price targets but maintain a consensus "Moderate Buy" and an average target of $205.19.

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 107,500 shares of the firm's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $147.16, for a total value of $15,819,700.00. Following the sale, the insider directly owned 105,049 shares of the company's stock, valued at $15,459,010.84. This represents a 50.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Workday Trading Down 1.9%

WDAY traded down $2.90 on Monday, reaching $148.14. 5,459,975 shares of the company traded hands, compared to its average volume of 5,283,062. The company has a market cap of $38.96 billion, a P/E ratio of 57.42, a price-to-earnings-growth ratio of 1.47 and a beta of 1.17. The company has a quick ratio of 1.83, a current ratio of 1.32 and a debt-to-equity ratio of 0.38. Workday, Inc. has a one year low of $117.76 and a one year high of $276.00. The firm has a fifty day simple moving average of $172.17 and a two-hundred day simple moving average of $208.84.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Auto Owners Insurance Co grew its holdings in shares of Workday by 25,412.8% during the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker's stock worth $2,197,332,000 after buying an additional 10,190,516 shares in the last quarter. Reflection Asset Management acquired a new position in Workday during the fourth quarter worth about $66,000. Anchor Investment Management LLC grew its stake in Workday by 7.3% during the 4th quarter. Anchor Investment Management LLC now owns 8,316 shares of the software maker's stock valued at $1,786,000 after acquiring an additional 563 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Workday by 840.9% in the 4th quarter. Pacer Advisors Inc. now owns 765,049 shares of the software maker's stock valued at $164,317,000 after acquiring an additional 683,741 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in Workday in the 4th quarter valued at about $2,518,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Raymond James Financial reiterated a "market perform" rating on shares of Workday in a research note on Monday, February 9th. BTIG Research reduced their target price on Workday from $230.00 to $175.00 and set a "buy" rating for the company in a research note on Wednesday, February 25th. UBS Group lowered 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. Barclays dropped their price target on Workday from $230.00 to $200.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 25th. Finally, Rosenblatt Securities reduced their price objective on Workday from $180.00 to $150.00 and set a "buy" rating for the company in a research note on Wednesday, February 25th. Twenty analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, Workday presently has an average rating of "Moderate Buy" and a consensus target price of $205.19.

About Workday

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.

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