Workday (NASDAQ:WDAY) Major Shareholder David Duffield Sells 75,053 Shares

Key Points

• David Duffield, a major shareholder of Workday, sold 75,053 shares at an average price of $236.34, totaling approximately $17.74 million, which represents a 42.15% decrease in his stake.
• Workday reported a 12.6% year-over-year increase in quarterly revenue, totaling $2.35 billion, and earnings per share (EPS) of $2.21, exceeding analyst expectations.
• Analysts have revised their price targets for Workday, with ratings ranging from "Hold" to "Buy", and an average target price now at $287.83.

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David Duffield sold 75,053 shares of the business's stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $236.34, for a total value of $17,738,026.02. Following the completion of the transaction, the insider directly owned 102,997 shares of the company's stock, valued at approximately $24,342,310.98. This trade represents a 42.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Workday Stock Performance

Shares of WDAY stock traded down $5.04 on Friday, hitting $233.18. The company had a trading volume of 2,267,523 shares, compared to its average volume of 2,627,209. The firm has a market cap of $62.26 billion, a P/E ratio of 107.95, a price-to-earnings-growth ratio of 2.97 and a beta of 1.10. The company has a 50-day moving average price of $230.13 and a 200-day moving average price of $237.10. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.33. Workday, Inc. has a twelve month low of $205.33 and a twelve month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Thursday, August 21st. The software maker reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.12. Workday had a return on equity of 9.74% and a net margin of 6.51%.The business had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.34 billion. During the same quarter in the previous year, the firm posted $1.75 EPS. The company's revenue for the quarter was up 12.6% on a year-over-year basis. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, equities research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Workday

Several large investors have recently bought and sold shares of the business. ABLE Financial Group LLC boosted its stake in shares of Workday by 12.2% during the third quarter. ABLE Financial Group LLC now owns 4,997 shares of the software maker's stock worth $1,203,000 after buying an additional 543 shares during the period. Douglas Lane & Associates LLC boosted its stake in shares of Workday by 12.1% during the third quarter. Douglas Lane & Associates LLC now owns 285,084 shares of the software maker's stock worth $68,628,000 after buying an additional 30,725 shares during the period. Red Door Wealth Management LLC boosted its stake in shares of Workday by 63.3% during the third quarter. Red Door Wealth Management LLC now owns 1,543 shares of the software maker's stock worth $371,000 after buying an additional 598 shares during the period. Bay Harbor Wealth Management LLC boosted its stake in shares of Workday by 12.0% during the third quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker's stock worth $110,000 after buying an additional 49 shares during the period. Finally, Dynamic Advisor Solutions LLC boosted its stake in shares of Workday by 11.1% during the third quarter. Dynamic Advisor Solutions LLC now owns 1,102 shares of the software maker's stock worth $265,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 89.81% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Weiss Ratings restated a "hold (c)" rating on shares of Workday in a research note on Wednesday. Oppenheimer cut their price objective on Workday from $300.00 to $270.00 and set an "outperform" rating for the company in a research note on Friday, August 22nd. Stifel Nicolaus cut their price objective on Workday from $275.00 to $255.00 and set a "hold" rating for the company in a research note on Friday, August 22nd. Cowen reiterated a "buy" rating on shares of Workday in a research note on Wednesday, September 17th. Finally, Bank of America cut their price objective on Workday from $295.00 to $278.00 and set a "buy" rating for the company in a research note on Tuesday, August 19th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $287.83.

Workday Company Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.

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