Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 57,000 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total value of $14,112,630.00. Following the completion of the sale, the insider now owns 505,000 shares in the company, valued at approximately $125,032,950. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Trading Up 0.3 %

NASDAQ WDAY opened at $248.29 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a market cap of $65.80 billion, a price-to-earnings ratio of 44.74, a PEG ratio of 5.07 and a beta of 1.35. The firm has a 50 day simple moving average of $237.48 and a 200-day simple moving average of $242.30. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the business earned $0.40 EPS. Workday’s revenue was up 16.5% on a year-over-year basis. Equities research analysts anticipate that Workday, Inc. will post 2.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Workday

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of Workday by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 199,304 shares of the software maker’s stock worth $55,020,000 after acquiring an additional 3,231 shares during the period. Great Lakes Advisors LLC purchased a new stake in shares of Workday in the fourth quarter valued at approximately $521,000. PNC Financial Services Group Inc. grew its holdings in Workday by 55.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 25,720 shares of the software maker’s stock worth $7,100,000 after acquiring an additional 9,126 shares during the period. Coldstream Capital Management Inc. purchased a new position in Workday in the fourth quarter worth $481,000. Finally, D.A. Davidson & CO. lifted its holdings in Workday by 3.5% in the fourth quarter. D.A. Davidson & CO. now owns 1,241 shares of the software maker’s stock valued at $343,000 after acquiring an additional 42 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

WDAY has been the topic of several analyst reports. Loop Capital upped their price objective on Workday from $240.00 to $255.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Royal Bank of Canada dropped their price objective on Workday from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. The Goldman Sachs Group upped their target price on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup reduced their price target on shares of Workday from $293.00 to $255.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Finally, Barclays increased their price objective on shares of Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and an average target price of $286.48.

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.