David A. Duffield Sells 71,672 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 71,672 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $248.58, for a total value of $17,816,225.76. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,602,994.26. This represents a 41.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Up 0.5 %

NASDAQ WDAY opened at $251.91 on Wednesday. The stock’s 50-day moving average price is $256.89 and its 200-day moving average price is $255.30. The company has a quick ratio of 2.05, a current 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 company has a market capitalization of $67.01 billion, a P/E ratio of 41.78, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. On average, equities research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Simplicity Wealth LLC boosted its holdings in Workday by 3.0% during the 4th quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock valued at $330,000 after acquiring an additional 37 shares during the period. Marcum Wealth LLC boosted its holdings in Workday by 4.4% during the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after acquiring an additional 41 shares during the period. Custom Index Systems LLC boosted its holdings in Workday by 3.0% during the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock valued at $364,000 after acquiring an additional 41 shares during the period. AllSquare Wealth Management LLC boosted its holdings in Workday by 19.4% during the 4th quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock valued at $65,000 after acquiring an additional 41 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares during the period. Institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

WDAY has been the subject of a number of analyst reports. UBS Group increased their price objective on Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. JMP Securities reissued a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research note on Thursday, February 6th. KeyCorp increased their price objective on Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Stifel Nicolaus increased their price objective on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a research note on Wednesday, February 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $300.00 target price on shares of Workday in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $300.36.

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.