David A. Duffield Sells 56,000 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the completion of the sale, the insider now directly owns 281,000 shares in the company, valued at approximately $68,004,810. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Price Performance

Shares of WDAY stock opened at $240.22 on Thursday. The firm has a market capitalization of $63.66 billion, a price-to-earnings ratio of 43.28, a price-to-earnings-growth ratio of 4.81 and a beta of 1.35. The firm has a fifty day moving average of $243.94 and a 200-day moving average of $238.40. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the business earned $0.40 earnings per share. The business’s revenue was up 16.5% compared to the same quarter last year. On average, equities research analysts forecast that Workday, Inc. will post 2.4 earnings per share for the current year.

Institutional Investors Weigh In On Workday

Hedge funds have recently added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new position in shares of Workday in the first quarter valued at $27,000. Sound Income Strategies LLC boosted its holdings in shares of Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after buying an additional 49 shares during the period. SouthState Corp grew its stake in Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after buying an additional 129 shares during the last quarter. Goodman Advisory Group LLC bought a new position in Workday in the 2nd quarter valued at about $35,000. Finally, Asset Dedication LLC acquired a new stake in Workday during the second quarter worth approximately $36,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Ratings Changes

WDAY has been the subject of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $285.00 price objective on shares of Workday in a report on Wednesday, September 18th. The Goldman Sachs Group raised their price target on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. KeyCorp boosted their price objective on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $300.00 price objective on shares of Workday in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $287.04.

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.