Insider Selling: Workday (NASDAQ:WDAY) Major Shareholder Sells 15,000 Shares of Stock

Key Points

• David Duffield, a major shareholder of Workday, sold 15,000 shares for a total of $3,333,450, reducing his stake by 50% in the company.
• Despite the sale, Workday's stock price increased by 7.2%, closing at $234.88 with significant trading volume of over 11.6 million shares.
• The company's recent earnings report showed an EPS of $2.21, exceeding estimates, and revenue increased by 12.6% year-over-year.

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David A. Duffield sold 15,000 shares of Workday stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $222.23, for a total transaction of $3,333,450.00. Following the completion of the transaction, the insider owned 15,000 shares of the company's stock, valued at $3,333,450. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 Performance

WDAY stock traded down $0.86 on Friday, hitting $232.65. The company's stock had a trading volume of 1,789,048 shares, compared to its average volume of 2,574,985. The firm has a 50 day moving average of $228.46 and a two-hundred day moving average of $238.13. Workday, Inc. has a 1 year low of $205.33 and a 1 year high of $294.00. The stock has a market cap of $62.12 billion, a price-to-earnings ratio of 107.71, a price-to-earnings-growth ratio of 3.25 and a beta of 1.12. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.33.

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

Institutional Trading of Workday

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WDAY. Rakuten Securities Inc. purchased a new position in Workday during the second quarter valued at approximately $25,000. Cornerstone Planning Group LLC increased its stake in shares of Workday by 76.1% during the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock worth $28,000 after purchasing an additional 54 shares in the last quarter. Berbice Capital Management LLC boosted its position in Workday by 136.4% during the second quarter. Berbice Capital Management LLC now owns 130 shares of the software maker's stock worth $31,000 after acquiring an additional 75 shares during the last quarter. Dagco Inc. acquired a new position in Workday during the first quarter worth about $31,000. Finally, Farmers & Merchants Investments Inc. acquired a new position in Workday in the 1st quarter valued at about $32,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on WDAY shares. Barclays lifted their price objective on shares of Workday from $285.00 to $288.00 and gave the stock an "overweight" rating in a report on Thursday. Loop Capital dropped their price target on shares of Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a research report on Friday, May 23rd. BMO Capital Markets dropped their target price on shares of Workday from $314.00 to $285.00 and set an "outperform" rating on the stock in a research report on Friday, August 22nd. Cowen reissued a "buy" rating on shares of Workday in a research note on Wednesday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $265.00 target price on shares of Workday in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $287.83.

About Workday

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.