Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $14,216,720.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.87, for a total value of $14,216,720.00. Following the completion of the transaction, the insider now owns 116,000 shares in the company, valued at approximately $29,448,920. The trade was a 32.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Performance

NASDAQ WDAY opened at $249.68 on Wednesday. The stock has a market capitalization of $66.41 billion, a price-to-earnings ratio of 41.41, a PEG ratio of 5.04 and a beta of 1.34. The business’s 50 day moving average is $261.60 and its two-hundred day moving average is $245.37. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. Workday’s quarterly revenue was up 15.8% on a year-over-year basis. Research analysts expect that Workday, Inc. will post 2.58 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Scotiabank initiated coverage on Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price target for the company. JMP Securities restated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a report on Thursday, September 19th. StockNews.com upgraded shares of Workday from a “hold” rating to a “buy” rating in a research note on Monday. Oppenheimer restated an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research note on Tuesday, December 3rd. Finally, Bank of America dropped their price objective on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and an average price target of $291.36.

Institutional Trading of Workday

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC increased its holdings in Workday by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after buying an additional 1,978 shares in the last quarter. Grafton Street Partners Fund LP acquired a new stake in shares of Workday in the 3rd quarter worth approximately $4,424,000. ICICI Prudential Asset Management Co Ltd increased its stake in Workday by 32.4% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after purchasing an additional 7,802 shares in the last quarter. Legal & General Group Plc raised its holdings in Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after purchasing an additional 118,180 shares during the last quarter. Finally, Atria Investments Inc boosted its position in Workday by 19.3% during the third quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock worth $10,833,000 after purchasing an additional 7,175 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.