Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 56,000 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $242.96, for a total transaction of $13,605,760.00. Following the completion of the transaction, the insider now owns 393,000 shares of the company’s stock, valued at $95,483,280. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Down 1.5 %

Shares of NASDAQ WDAY traded down $3.51 on Wednesday, reaching $237.15. 2,238,640 shares of the company’s stock traded hands, compared to its average volume of 2,185,816. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The business’s 50 day simple moving average is $239.42 and its two-hundred day simple moving average is $240.77. The company has a market cap of $62.84 billion, a price-to-earnings ratio of 43.36, a price-to-earnings-growth ratio of 4.85 and a beta of 1.35. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

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

Institutional Investors Weigh In On Workday

Institutional investors and hedge funds have recently made changes to their positions in the company. William Blair Investment Management LLC increased its position in shares of Workday by 17.6% during the first quarter. William Blair Investment Management LLC now owns 32,442 shares of the software maker’s stock valued at $8,849,000 after acquiring an additional 4,865 shares in the last quarter. ORG Partners LLC boosted its holdings in Workday by 3,717.9% in the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock worth $721,000 after purchasing an additional 3,123 shares during the last quarter. Bornite Capital Management LP purchased a new stake in Workday in the fourth quarter worth approximately $34,508,000. Nordea Investment Management AB boosted its holdings in Workday by 3.0% in the first quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock worth $128,851,000 after purchasing an additional 13,502 shares during the last quarter. Finally, Bain Capital Public Equity LP boosted its holdings in Workday by 32.5% in the fourth quarter. Bain Capital Public Equity LP now owns 22,471 shares of the software maker’s stock worth $6,203,000 after purchasing an additional 5,513 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Friday, September 13th. Loop Capital boosted their price target on shares of Workday from $240.00 to $255.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Evercore ISI reduced their price target on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. JMP Securities restated a “market outperform” rating and set a $315.00 price target on shares of Workday in a research report on Thursday, September 19th. Finally, Morgan Stanley reduced their target price on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. One investment 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 company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $287.04.

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.