Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 78,279 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 78,279 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $223.89, for a total value of $17,525,885.31. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $23,059,998.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Trading Down 0.5 %

NASDAQ WDAY opened at $225.55 on Thursday. The stock’s fifty day moving average price is $231.32 and its 200-day moving average price is $262.55. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.37. The stock has a market cap of $59.77 billion, a P/E ratio of 40.64, a P/E/G ratio of 5.71 and a beta of 1.35. Workday, Inc. has a 12 month low of $202.01 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, beating the consensus estimate of $0.31 by $0.20. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 5.78%. Workday’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.16 EPS. As a group, equities analysts forecast that Workday, Inc. will post 2.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on WDAY shares. BMO Capital Markets dropped their target price on Workday from $338.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, May 24th. The Goldman Sachs Group dropped their price objective on Workday from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Morgan Stanley decreased their target price on shares of Workday from $330.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. Citigroup dropped their price target on shares of Workday from $293.00 to $255.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Finally, Stifel Nicolaus decreased their price objective on shares of Workday from $290.00 to $250.00 and set a “hold” rating on the stock in a research report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus target price of $282.11.

Hedge Funds Weigh In On Workday

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Workday in the fourth quarter worth $1,491,149,000. Wellington Management Group LLP raised its holdings in shares of Workday by 37.4% during the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after purchasing an additional 1,406,153 shares during the last quarter. Morgan Stanley lifted its position in Workday by 47.0% during the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after purchasing an additional 872,288 shares during the period. Vanguard Group Inc. boosted its holdings in Workday by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock worth $3,988,549,000 after purchasing an additional 437,215 shares during the last quarter. Finally, Kodai Capital Management LP bought a new stake in Workday in the 4th quarter worth approximately $85,994,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

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.