Insider Selling: Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells 56,000 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $228.12, for a total transaction of $12,774,720.00. Following the completion of the transaction, the insider now directly owns 618,000 shares of the company’s stock, valued at $140,978,160. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $223.08 on Thursday. The stock has a market cap of $59.12 billion, a PE ratio of 40.19, a PEG ratio of 5.70 and a beta of 1.35. The company’s fifty day moving average is $228.39 and its 200 day moving average is $260.65. Workday, Inc. has a 52 week low of $202.01 and a 52 week high of $311.28. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37.

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

Wall Street Analysts Forecast Growth

WDAY has been the subject of several analyst reports. Piper Sandler cut their price objective on shares of Workday from $330.00 to $280.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Sanford C. Bernstein cut their price objective on shares of Workday from $321.00 to $301.00 and set an “outperform” rating for the company in a report on Friday, May 24th. Barclays cut their price objective on shares of Workday from $316.00 to $286.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Canaccord Genuity Group cut their price objective on shares of Workday from $305.00 to $270.00 and set a “buy” rating for the company in a report on Friday, May 24th. Finally, Mizuho cut their price objective on shares of Workday from $325.00 to $280.00 and set a “buy” rating for the company in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $282.11.

Hedge Funds Weigh In On Workday

A number of large investors have recently added to or reduced their stakes in WDAY. ORG Partners LLC grew its holdings in Workday by 1.2% in the 4th quarter. ORG Partners LLC now owns 2,856 shares of the software maker’s stock worth $788,000 after acquiring an additional 34 shares during the last quarter. VisionPoint Advisory Group LLC grew its holdings in Workday by 27.6% in the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock worth $43,000 after acquiring an additional 34 shares during the last quarter. Carolinas Wealth Consulting LLC grew its holdings in Workday by 9.7% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock worth $106,000 after acquiring an additional 34 shares during the last quarter. Washington Trust Advisors Inc. grew its holdings in Workday by 8.1% in the 4th quarter. Washington Trust Advisors Inc. now owns 481 shares of the software maker’s stock worth $133,000 after acquiring an additional 36 shares during the last quarter. Finally, Meitav Investment House Ltd. grew its holdings in Workday by 2.6% in the 4th quarter. Meitav Investment House Ltd. now owns 1,401 shares of the software maker’s stock worth $387,000 after acquiring an additional 36 shares during the last quarter. Hedge funds and other 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.