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 stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the transaction, the insider now owns 284,000 shares in the company, valued at $78,188,040. The trade was a 16.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Price Performance

WDAY opened at $273.04 on Friday. The stock has a 50-day moving average price of $257.01 and a 200-day moving average price of $241.09. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a market cap of $72.63 billion, a PE ratio of 45.28, a P/E/G ratio of 5.04 and a beta of 1.34. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 EPS. Sell-side analysts predict that Workday, Inc. will post 2.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Workday

Several large investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in shares of Workday by 45.0% in the 3rd quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker’s stock worth $4,349,000 after purchasing an additional 5,519 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in Workday in the 3rd quarter worth about $15,663,000. Garde Capital Inc. increased its holdings in Workday by 60.6% in the 3rd quarter. Garde Capital Inc. now owns 3,120 shares of the software maker’s stock worth $763,000 after buying an additional 1,177 shares in the last quarter. Peapack Gladstone Financial Corp increased its holdings in Workday by 21.3% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 2,280 shares of the software maker’s stock worth $557,000 after buying an additional 401 shares in the last quarter. Finally, Synovus Financial Corp increased its holdings in Workday by 5.7% in the 3rd quarter. Synovus Financial Corp now owns 19,590 shares of the software maker’s stock worth $4,788,000 after buying an additional 1,051 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Morgan Stanley increased their price target on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Scotiabank initiated coverage on shares of Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price on the stock. Oppenheimer restated an “outperform” rating and issued a $300.00 target price on shares of Workday in a report on Tuesday, December 3rd. Barclays cut their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Finally, Loop Capital cut their target price on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $291.36.

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.