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 that occurred on Friday, June 21st. The shares were sold at an average price of $218.58, for a total value of $12,240,480.00. Following the completion of the transaction, the insider now owns 730,000 shares in the company, valued at $159,563,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Stock Down 0.3 %

WDAY stock opened at $216.78 on Thursday. The company’s 50 day moving average is $234.52 and its two-hundred day moving average is $264.38. Workday, Inc. has a twelve month low of $202.01 and a twelve month high of $311.28. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.37. The stock has a market cap of $57.45 billion, a P/E ratio of 39.06, a PEG ratio of 5.49 and a beta of 1.33.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping the consensus estimate of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the business earned $0.16 EPS. Workday’s revenue for the quarter was up 18.1% compared to the same quarter last year. Research analysts expect that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

Institutional Trading of Workday

A number of large investors have recently made changes to their positions in the company. Beacon Capital Management LLC lifted its stake in Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after buying an additional 70 shares during the last quarter. VisionPoint Advisory Group LLC boosted its stake in Workday by 215.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares during the period. Crewe Advisors LLC acquired a new stake in Workday during the 1st quarter worth $27,000. Exchange Traded Concepts LLC grew its position in Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after purchasing an additional 105 shares during the last quarter. Finally, Sound Income Strategies LLC increased its stake in Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after purchasing an additional 49 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WDAY shares. DA Davidson dropped their price target on shares of Workday from $300.00 to $255.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. UBS Group decreased their price target on Workday from $280.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Citigroup dropped their price objective on Workday from $293.00 to $255.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. The Goldman Sachs Group decreased their target price on Workday from $310.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 target price on shares of Workday in a research report on Friday, May 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $282.11.

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.