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

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $242.96, for a total transaction of $13,605,760.00. Following the completion of the sale, the insider now owns 393,000 shares in the company, valued at approximately $95,483,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Workday Price Performance

Shares of Workday stock traded down $3.51 during trading hours on Wednesday, reaching $237.15. The company’s stock had a trading volume of 2,238,640 shares, compared to its average volume of 2,185,816. The firm has a 50 day moving average price of $239.42 and a 200-day moving average price of $240.77. Workday, Inc. has a one year low of $199.81 and a one year 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. The stock has a market cap of $62.84 billion, a P/E ratio of 43.36, a P/E/G ratio of 4.85 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its earnings results 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. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the firm posted $0.40 EPS. The business’s quarterly revenue was up 16.5% on a year-over-year basis. On average, analysts predict that Workday, Inc. will post 2.39 EPS for the current year.

Wall Street Analyst Weigh In

WDAY has been the topic of several analyst reports. Needham & Company LLC dropped their price target on shares of Workday from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. DA Davidson lifted their price target on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Morgan Stanley dropped their price target on shares of Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Evercore ISI dropped their price target on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Finally, Barclays lifted their price target on shares of Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $287.04.

Hedge Funds Weigh In On Workday

A number of large investors have recently made changes to their positions in WDAY. The Manufacturers Life Insurance Company boosted its stake in shares of Workday by 79.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after purchasing an additional 1,016,394 shares during the period. Van ECK Associates Corp boosted its position in Workday by 17,345.2% in the 2nd quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock valued at $208,068,000 after buying an additional 925,366 shares during the period. Vanguard Group Inc. boosted its position in Workday by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock valued at $3,988,549,000 after buying an additional 437,215 shares during the period. D1 Capital Partners L.P. boosted its position in Workday by 152.1% in the 2nd quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock valued at $115,804,000 after buying an additional 312,500 shares during the period. Finally, Sustainable Growth Advisers LP boosted its position in Workday by 9.7% in the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after buying an additional 301,463 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

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.