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 dated Monday, December 30th. The shares were sold at an average price of $261.75, for a total transaction of $14,658,000.00. Following the transaction, the insider now directly owns 172,000 shares in the company, valued at $45,021,000. This trade represents a 24.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $258.03 on Thursday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a 50 day simple moving average of $260.39 and a two-hundred day simple moving average of $244.03. The stock has a market cap of $68.64 billion, a price-to-earnings ratio of 42.79, a PEG ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 EPS. As a group, analysts predict that Workday, Inc. will post 2.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WDAY shares. BMO Capital Markets reissued an “outperform” rating and set a $300.00 target price on shares of Workday in a research report on Wednesday, September 18th. Barclays cut their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Loop Capital cut their price objective on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Citigroup cut their price objective on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Finally, Morgan Stanley lifted their price objective on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $291.36.

Hedge Funds Weigh In On Workday

Several institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of Workday by 45.0% during the 3rd quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker’s stock valued at $4,349,000 after purchasing an additional 5,519 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Workday during the 3rd quarter valued at approximately $15,663,000. Garde Capital Inc. increased its holdings in shares of Workday by 60.6% during the 3rd quarter. Garde Capital Inc. now owns 3,120 shares of the software maker’s stock valued at $763,000 after purchasing an additional 1,177 shares in the last quarter. Peapack Gladstone Financial Corp increased its holdings in shares of Workday by 21.3% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 2,280 shares of the software maker’s stock valued at $557,000 after purchasing an additional 401 shares in the last quarter. Finally, Synovus Financial Corp increased its holdings in shares of Workday by 5.7% during the 3rd quarter. Synovus Financial Corp now owns 19,590 shares of the software maker’s stock valued at $4,788,000 after purchasing an additional 1,051 shares in the last quarter. 89.81% of the stock is 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.