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 company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $242.01, for a total value of $13,552,560.00. Following the completion of the transaction, the insider now directly owns 281,000 shares in the company, valued at approximately $68,004,810. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Workday Trading Up 1.0 %

NASDAQ WDAY opened at $244.83 on Wednesday. The company’s fifty day moving average price is $243.34 and its two-hundred day moving average price is $238.38. 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, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a market capitalization of $64.88 billion, a price-to-earnings ratio of 44.11, a price-to-earnings-growth ratio of 4.87 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate of $1.65 by $0.10. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. Workday’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the company earned $0.40 EPS. As a group, research analysts predict that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Crewe Advisors LLC bought a new stake in shares of Workday during the 1st quarter worth $27,000. Sound Income Strategies LLC raised its position in shares of Workday by 74.2% in the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after acquiring an additional 49 shares during the period. SouthState Corp raised its holdings in Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares during the period. Pacific Center for Financial Services grew its stake in shares of Workday by 57.0% in the first quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock valued at $43,000 after buying an additional 57 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new position in Workday during the second quarter worth $35,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on WDAY. Needham & Company LLC lowered their target price 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. JMP Securities reissued a “market outperform” rating and issued a $315.00 target price on shares of Workday in a research note on Thursday, September 19th. DA Davidson raised their price target on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Wells Fargo & Company lifted their target price on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.04.

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.