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 company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $209.17, for a total value of $11,922,690.00. Following the transaction, the insider now directly owns 786,000 shares in the company, valued at $164,407,620. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Workday Trading Down 2.2 %

WDAY stock opened at $207.69 on Wednesday. The company’s 50-day simple moving average is $239.30 and its 200-day simple moving average is $266.30. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 52-week low of $202.01 and a 52-week high of $311.28. The firm has a market cap of $55.04 billion, a P/E ratio of 37.42, a PEG ratio of 6.28 and a beta of 1.33.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the company posted $0.16 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, equities analysts forecast that Workday, Inc. will post 1.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of WDAY. Beacon Capital Management LLC raised its position in shares of Workday by 333.3% during the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after purchasing an additional 70 shares during the last quarter. VisionPoint Advisory Group LLC raised its position in shares of Workday by 215.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of Workday during the 1st quarter worth about $27,000. Clear Street Markets LLC acquired a new position in shares of Workday during the 3rd quarter worth about $29,000. Finally, Exchange Traded Concepts LLC raised its position in shares of Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after purchasing an additional 105 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Evercore ISI reduced their price target on Workday from $350.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Barclays reduced their price target on Workday from $316.00 to $286.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. Stifel Nicolaus dropped their price objective on shares of Workday from $290.00 to $250.00 and set a “hold” rating on the stock in a report on Friday, May 24th. Loop Capital dropped their price objective on shares of Workday from $280.00 to $240.00 and set a “hold” rating on the stock in a report on Friday, May 24th. Finally, DA Davidson dropped their price objective on shares of Workday from $300.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and an average price target of $283.96.

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.