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

Key Points

• David Duffield, a major Workday shareholder, sold 107,500 shares on March 18 at an average price of $132.58 for about $14.25 million, reducing his position by 50.58% to 105,049 shares valued near $13.93 million.
• Workday recently beat quarterly estimates with EPS $2.47 versus $2.32 expected and revenue of $2.53 billion, up 14.5% year‑over‑year.
• Several analysts have trimmed price targets and ratings (examples: Rosenblatt to $150, Piper Sandler to $135, DA Davidson to $125), though the MarketBeat consensus remains a "Moderate Buy" with a $199.71 target.

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 107,500 shares of the business's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $132.58, for a total value of $14,252,350.00. Following the transaction, the insider owned 105,049 shares of the company's stock, valued at $13,927,396.42. This trade represents a 50.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Workday Trading Up 1.9%

Shares of WDAY traded up $2.58 during mid-day trading on Friday, reaching $135.96. 9,231,857 shares of the company's stock traded hands, compared to its average volume of 5,234,978. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32. The stock's 50-day moving average is $158.55 and its two-hundred day moving average is $203.48. Workday, Inc. has a 12 month low of $117.76 and a 12 month high of $276.00. The stock has a market cap of $34.94 billion, a P/E ratio of 52.70, a P/E/G ratio of 1.28 and a beta of 1.16.

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

Analyst Ratings Changes

A number of research analysts have recently commented on WDAY shares. Rosenblatt Securities cut their price target on shares of Workday from $180.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, February 25th. Evercore lowered shares of Workday from an "outperform" rating to an "in-line" rating and set a $160.00 price objective for the company. in a report on Wednesday, February 25th. Wall Street Zen cut shares of Workday from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Piper Sandler reduced their target price on shares of Workday from $200.00 to $135.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 25th. Finally, DA Davidson decreased their price target on shares of Workday from $250.00 to $125.00 and set a "neutral" rating for the company in a research note on Wednesday, February 25th. Nineteen investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $199.71.

Institutional Investors Weigh In On Workday

Several large investors have recently modified their holdings of the business. Perennial Investment Advisors LLC increased its holdings in Workday by 2.8% during the second quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker's stock valued at $418,000 after buying an additional 48 shares during the period. Finivi Inc. boosted its position in Workday by 3.3% during the 3rd quarter. Finivi Inc. now owns 1,516 shares of the software maker's stock valued at $365,000 after acquiring an additional 48 shares in the last quarter. Bay Harbor Wealth Management LLC increased its holdings in shares of Workday by 12.0% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker's stock valued at $110,000 after acquiring an additional 49 shares during the period. Farther Finance Advisors LLC raised its position in shares of Workday by 1.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,128 shares of the software maker's stock worth $994,000 after acquiring an additional 49 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its position in shares of Workday by 1.1% in the 2nd quarter. Kingsview Wealth Management LLC now owns 4,544 shares of the software maker's stock worth $1,091,000 after acquiring an additional 50 shares in the last quarter. Institutional investors 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.