Insider Selling: Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $13,740,160.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $245.36, for a total value of $13,740,160.00. Following the transaction, the insider now directly owns 449,000 shares in the company, valued at approximately $110,166,640. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Stock Down 0.7 %

Shares of WDAY opened at $243.62 on Friday. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The company has a market cap of $64.56 billion, a P/E ratio of 43.90, a P/E/G ratio of 4.91 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a 50 day simple moving average of $238.82 and a two-hundred day simple moving average of $241.57.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Evercore ISI decreased their target price on Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Piper Sandler reissued an “overweight” rating and issued a $285.00 price objective on shares of Workday in a research report on Wednesday, September 18th. Guggenheim reaffirmed a “sell” rating and set a $190.00 target price on shares of Workday in a report on Tuesday, June 25th. KeyCorp increased their price target on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, BMO Capital Markets restated an “outperform” rating and set a $300.00 price objective on shares of Workday in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $287.04.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WDAY. Crewe Advisors LLC bought a new stake in shares of Workday during the first quarter worth $27,000. Sound Income Strategies LLC grew its stake in shares of Workday by 74.2% during the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after buying an additional 49 shares during the last quarter. SouthState Corp grew its stake in shares of Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares during the last quarter. Goodman Advisory Group LLC bought a new stake in shares of Workday during the second quarter worth $35,000. Finally, Asset Dedication LLC bought a new stake in shares of Workday during the second quarter worth $36,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.