Director of Workday, Inc. Sells Shares

On January 2, 2025, Wayne A.I. Frederick, a director at Workday, Inc. (NASDAQ: WDAY), sold 1,829 shares of the company's stock. The transaction took place at an average price of $253.09 per share, amounting to a total of $462,901.61. After this sale, Frederick holds 6,845 shares of Workday, valued at approximately $1,732,401.05. This sale reflects a significant reduction of 21.09% in his stake in the company. The details of the transaction were filed with the Securities and Exchange Commission (SEC) and can be accessed for further information.

In addition to this recent transaction, Frederick previously sold 1,828 shares on October 11, 2024, at an average price of $241.85, totaling $442,101.80.

Performance of Workday Stock

As of Tuesday, shares of WDAY opened at $254.14, with a market capitalization of $67.60 billion. The company has a price-to-earnings (P/E) ratio of 42.15 and a price-to-earnings-growth (PEG) ratio of 5.04. The stock's beta stands at 1.34, indicating some volatility compared to the market. Current moving average prices are $261.38 for the last fifty days and $245.16 over the past two hundred days. Over the last year, Workday's stock has reached a low of $199.81 and a high of $311.28.

Workday announced its latest quarterly earnings on November 26, 2024, reporting earnings per share (EPS) of $1.89, surpassing analyst projections of $1.76 by $0.13. The company achieved a net margin of 19.86% and a return on equity of 6.13%. Revenue for the quarter was $2.16 billion, exceeding estimates of $2.13 billion and marking a year-over-year increase of 15.8%. Analysts predict Workday will post a $2.58 EPS for the current fiscal year.

Changes in Analyst Ratings

Workday has attracted attention in the investment community, with various research firms issuing updates on the stock. Barclays lowered their price target from $314.00 to $305.00 while maintaining an "overweight" rating. Oppenheimer reaffirmed its "outperform" rating with a target of $300. Meanwhile, Mizuho increased its price target from $280.00 to $320.00, and Morgan Stanley raised its target from $315.00 to $330.00, both maintaining an "overweight" rating. Guggenheim also upgraded Workday from a "sell" to a "neutral" rating. Currently, eight analysts rate the stock as a hold, while twenty-one suggest a buy, leading to a consensus rating of "Moderate Buy" with an average target price of $291.36, according to MarketBeat.com.

Institutional Investment in Workday

A significant percentage of Workday’s stock is held by institutional investors. Recently, The Manufacturers Life Insurance Company boosted its stake in Workday by 79.1%, now owning 2,302,008 shares valued at $514,637,000. Two Sigma Advisers LP increased its position by an impressive 1,094.2%, owning 613,800 shares worth $150,019,000. Additionally, Janus Henderson Group PLC raised its holdings by 10.7% with 4,985,131 shares valued at $1,218,415,000. Other notable investments include Zurich Insurance Group Ltd FI, which purchased a new stake valued at $78,003,000, and D1 Capital Partners L.P., which grew its holdings by 152.1%. Currently, institutional investors and hedge funds own 89.81% of Workday’s shares.

About Workday, Inc.

Workday, Inc. provides enterprise cloud applications both in the United States and internationally. Its software solutions support clients in managing their business operations through financial management tools, helping to maintain accounting records, financial processes, and real-time insights, aiming for enhanced efficiency and control in finance operations.

Workday, Stocks, Sales