Workday, Inc. (NASDAQ:WDAY – Get Free Report)’s share price traded down 6.1% during trading on Tuesday following insider selling activity. The stock traded as low as $132.26 and last traded at $136.0510. 891,880 shares traded hands during trading, a decline of 83% from the average session volume of 5,122,433 shares. The stock had previously closed at $144.87.
Specifically, major shareholder David A. Duffield sold 107,500 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $136.74, for a total transaction of $14,699,550.00. Following the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $14,364,400.26. This represents a 50.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Wall Street Analyst Weigh In
WDAY has been the topic of a number of research reports. William Blair upgraded shares of Workday to a “strong-buy” rating in a research report on Friday, May 22nd. UBS Group lifted their price target on shares of Workday from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, May 22nd. Barclays raised shares of Workday from an “overweight” rating to a “buy” rating in a research note on Friday, May 22nd. Citigroup reissued a “market perform” rating on shares of Workday in a research report on Friday, May 22nd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Workday in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $184.00.
Trending Headlines about Workday
Here are the key news stories impacting Workday this week:
- Positive Sentiment: Investors are rotating into enterprise software, lifting Workday with other oversold software names as chip stocks weaken. Salesforce, Workday, and PagerDuty Stocks Trade Up, What You Need To Know
- Positive Sentiment: Analysts still see value in Workday, citing a lower valuation and rising earnings estimates versus some enterprise AI peers. Workday vs. Arista: Which Enterprise AI Stock Has More Upside Now?
- Neutral Sentiment: Workday was also part of a mixed session for enterprise software as the Nasdaq sold off, suggesting broader sector volatility rather than a company-specific problem. Enterprise software stocks mixed as tech-heavy Nasdaq takes hit
- Negative Sentiment: Major shareholder David Duffield sold 107,500 shares, which may create some caution despite the sale being made under a pre-arranged trading plan. Workday insider trade disclosure
Workday Price Performance
The stock has a market capitalization of $33.48 billion, a price-to-earnings ratio of 42.36, a PEG ratio of 1.49 and a beta of 1.11. The business’s fifty day moving average price is $130.23 and its 200-day moving average price is $146.14. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01.
Workday (NASDAQ:WDAY – Get Free Report) last posted its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The firm’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.23 EPS. On average, research analysts forecast that Workday, Inc. will post 5.34 EPS for the current year.
Institutional Investors Weigh In On Workday
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rakuten Securities Inc. purchased a new position in shares of Workday in the 2nd quarter worth about $25,000. Measured Wealth Private Client Group LLC purchased a new stake in Workday during the third quarter worth about $26,000. DT Investment Partners LLC bought a new stake in Workday in the fourth quarter worth about $27,000. LRI Investments LLC bought a new stake in Workday in the fourth quarter worth about $29,000. Finally, JPL Wealth Management LLC bought a new stake in Workday in the third quarter worth about $30,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.
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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