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 the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $261.75, for a total value of $14,658,000.00. Following the transaction, the insider now owns 172,000 shares of the company’s stock, valued at approximately $45,021,000. This represents a 24.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Stock Down 1.5 %

Shares of WDAY opened at $258.03 on Wednesday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The firm’s 50 day moving average is $260.07 and its 200-day moving average is $243.93. The stock has a market capitalization of $68.64 billion, a PE ratio of 42.79, a P/E/G ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 earnings per share. Equities research analysts forecast that Workday, Inc. will post 2.58 EPS for the current year.

Hedge Funds Weigh In On Workday

Several hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its position in Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after acquiring an additional 1,016,394 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of Workday by 1,094.2% during the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock worth $150,019,000 after acquiring an additional 562,400 shares during the period. Janus Henderson Group PLC increased its stake in shares of Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after purchasing an additional 480,459 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Workday during the 3rd quarter valued at approximately $78,003,000. Finally, D1 Capital Partners L.P. boosted its holdings in Workday by 152.1% in the 2nd quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock worth $115,804,000 after buying an additional 312,500 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several analyst reports. The Goldman Sachs Group boosted their price target on shares of Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Monday, November 25th. Morgan Stanley raised their price objective on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Bank of America dropped their target price on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Finally, StockNews.com raised shares of Workday from a “hold” rating to a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $291.36.

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.