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

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.87, for a total transaction of $14,216,720.00. Following the completion of the transaction, the insider now directly owns 116,000 shares of the company’s stock, valued at approximately $29,448,920. This trade represents a 32.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Price Performance

Shares of NASDAQ WDAY traded down $4.46 during midday trading on Tuesday, reaching $249.68. The company’s stock had a trading volume of 2,222,449 shares, compared to its average volume of 1,901,767. The company has a market cap of $66.41 billion, a P/E ratio of 41.41, a P/E/G ratio of 5.04 and a beta of 1.34. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The business’s 50 day moving average price is $261.38 and its two-hundred day moving average price is $245.16.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on WDAY shares. Mizuho raised their price objective on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Barclays decreased their price target on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. BMO Capital Markets reiterated an “outperform” rating and set a $300.00 price objective on shares of Workday in a research note on Wednesday, September 18th. Scotiabank began coverage on shares of Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price for the company. Finally, Loop Capital dropped their price target on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $291.36.

Institutional Investors Weigh In On Workday

Large investors have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Workday during the 3rd quarter worth $26,000. Goodman Advisory Group LLC acquired a new stake in shares of Workday in the 2nd quarter valued at approximately $35,000. Meeder Asset Management Inc. grew its holdings in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares during the last quarter. Asset Dedication LLC bought a new position in Workday in the 2nd quarter valued at approximately $36,000. Finally, New Millennium Group LLC boosted its position in Workday by 177.4% in the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock valued at $36,000 after buying an additional 94 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.