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 Friday, June 28th. The stock was sold at an average price of $223.80, for a total transaction of $12,532,800.00. Following the completion of the sale, the insider now directly owns 674,000 shares in the company, valued at approximately $150,841,200. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Stock Performance

WDAY stock opened at $225.55 on Friday. The stock’s 50 day simple moving average is $230.71 and its 200 day simple moving average is $262.29. 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 capitalization of $59.77 billion, a PE ratio of 40.64, a price-to-earnings-growth 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 posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the firm posted $0.16 earnings per share. The firm’s revenue was up 18.1% compared to the same quarter last year. As a group, research analysts forecast that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on WDAY shares. Jefferies Financial Group cut their target price on Workday from $350.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. TD Cowen reduced their target price on Workday from $330.00 to $290.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Guggenheim reaffirmed a “sell” rating and issued a $190.00 price target on shares of Workday in a research note on Tuesday, June 25th. Loop Capital cut their price target 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, JMP Securities restated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a report on Friday, May 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $282.11.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its holdings in shares of Workday by 167.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 182 shares of the software maker’s stock worth $41,000 after purchasing an additional 114 shares during the last quarter. GAMMA Investing LLC increased its holdings in Workday by 9.5% during the 2nd quarter. GAMMA Investing LLC now owns 694 shares of the software maker’s stock worth $155,000 after purchasing an additional 60 shares during the period. Transcend Capital Advisors LLC raised its holdings in shares of Workday by 2.2% in the 2nd quarter. Transcend Capital Advisors LLC now owns 2,985 shares of the software maker’s stock valued at $667,000 after purchasing an additional 63 shares in the last quarter. HM Payson & Co. raised its position in shares of Workday by 3.2% in the 1st quarter. HM Payson & Co. now owns 2,089 shares of the software maker’s stock worth $570,000 after acquiring an additional 64 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in Workday by 1.9% during the first quarter. Westwood Holdings Group Inc. now owns 4,263 shares of the software maker’s stock valued at $1,163,000 after acquiring an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

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.