Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 78,279 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 78,279 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $223.89, for a total value of $17,525,885.31. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $23,059,998.33. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Performance

WDAY stock opened at $226.76 on Wednesday. The business’s 50-day moving average price is $231.92 and its two-hundred day moving average price is $262.87. 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 firm has a market cap of $60.09 billion, a PE ratio of 40.86, a P/E/G ratio of 5.64 and a beta of 1.35. Workday, Inc. has a 1-year low of $202.01 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.20. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share. As a group, research analysts forecast that Workday, Inc. will post 2.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup dropped their target price on Workday from $293.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. JPMorgan Chase & Co. decreased their price target on Workday from $300.00 to $285.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Robert W. Baird decreased their target price on Workday from $316.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Sanford C. Bernstein decreased their target price on Workday from $321.00 to $301.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Finally, Loop Capital reduced their price objective on Workday from $280.00 to $240.00 and set a “hold” rating for the company in a research report on Friday, May 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $282.11.

Institutional Trading of Workday

Hedge funds and other institutional investors have recently modified their holdings of the company. Vontobel Holding Ltd. raised its stake in shares of Workday by 5.1% in the 4th quarter. Vontobel Holding Ltd. now owns 67,077 shares of the software maker’s stock valued at $18,517,000 after purchasing an additional 3,260 shares during the period. Morgan Stanley raised its stake in shares of Workday by 47.0% in the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after purchasing an additional 872,288 shares during the period. Assetmark Inc. raised its stake in shares of Workday by 9.9% in the 4th quarter. Assetmark Inc. now owns 21,414 shares of the software maker’s stock valued at $5,912,000 after purchasing an additional 1,933 shares during the period. Bornite Capital Management LP acquired a new stake in shares of Workday in the 4th quarter valued at about $34,508,000. Finally, Bain Capital Public Equity LP raised its stake in shares of Workday by 32.5% in the 4th quarter. Bain Capital Public Equity LP now owns 22,471 shares of the software maker’s stock valued at $6,203,000 after purchasing an additional 5,513 shares during the period. 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.