David A. Duffield Sells 57,000 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the sale, the insider now directly owns 505,000 shares of the company’s stock, valued at approximately $125,032,950. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Performance

Shares of Workday stock opened at $248.29 on Friday. The company’s 50 day moving average price is $237.48 and its two-hundred day moving average price is $242.12. The firm has a market capitalization of $65.80 billion, a P/E ratio of 44.74, a P/E/G ratio of 5.07 and a beta of 1.35. 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 0.36, a current ratio of 2.04 and a quick ratio of 2.04.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. William Blair Investment Management LLC raised its position in Workday by 17.6% during the 1st quarter. William Blair Investment Management LLC now owns 32,442 shares of the software maker’s stock worth $8,849,000 after purchasing an additional 4,865 shares during the last quarter. Assetmark Inc. raised its position in shares of Workday by 9.9% during the fourth quarter. Assetmark Inc. now owns 21,414 shares of the software maker’s stock worth $5,912,000 after acquiring an additional 1,933 shares during the last quarter. ORG Partners LLC lifted its stake in shares of 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 acquiring an additional 3,123 shares during the period. Bornite Capital Management LP bought a new stake in Workday in the fourth quarter valued at approximately $34,508,000. Finally, Nordea Investment Management AB increased its position in Workday by 3.0% during the 1st quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock valued at $128,851,000 after purchasing an additional 13,502 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Morgan Stanley reduced their price objective on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a report on Thursday. Guggenheim reissued a “sell” rating and set a $190.00 target price on shares of Workday in a report on Tuesday, June 25th. Barclays upped their price target on shares of Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, KeyCorp lifted their price objective on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $286.48.

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.