Insider Selling: Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells 66,455 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 66,455 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $259.52, for a total value of $17,246,401.60. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $26,729,781.44. This trade represents a 39.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Trading Up 2.4 %

NASDAQ WDAY traded up $5.98 on Wednesday, hitting $259.61. The company’s stock had a trading volume of 1,859,891 shares, compared to its average volume of 2,437,385. 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, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The firm has a market cap of $69.06 billion, a P/E ratio of 43.05, a PEG ratio of 3.55 and a beta of 1.35. The company’s 50-day simple moving average is $259.17 and its 200 day simple moving average is $255.46.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Research analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WDAY shares. Loop Capital increased their price target on shares of Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th. Scotiabank increased their target price on shares of Workday from $340.00 to $355.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 27th. KeyCorp raised their price target on shares of Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Stifel Nicolaus increased their price objective on Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Finally, Redburn Atlantic initiated coverage on Workday in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and an average target price of $302.14.

Institutional Investors Weigh In On Workday

A number of large investors have recently modified their holdings of WDAY. Vanguard Group Inc. lifted its holdings in Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after buying an additional 4,517,272 shares during the period. Janus Henderson Group PLC boosted its stake in Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after purchasing an additional 480,459 shares during the last quarter. State Street Corp boosted its position in shares of Workday by 1.4% during the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after buying an additional 67,380 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Workday by 61.9% in the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock worth $1,193,105,000 after acquiring an additional 1,772,223 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Workday by 60.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker’s stock worth $960,454,000 after purchasing an additional 1,406,088 shares during the period. Institutional investors own 89.81% of the company’s stock.

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.