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 Workday stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $253.87, for a total value of $14,216,720.00. Following the sale, the insider now directly owns 116,000 shares in the company, valued at approximately $29,448,920. This trade represents a 32.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Workday Price Performance

WDAY opened at $254.69 on Thursday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The stock has a fifty day moving average price of $261.93 and a 200 day moving average price of $245.44. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a market cap of $67.75 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the company posted $0.47 earnings per share. Workday’s revenue for the quarter was up 15.8% on a year-over-year basis. Analysts forecast that Workday, Inc. will post 2.58 EPS for the current fiscal year.

Institutional Trading of Workday

A number of institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of Workday by 42.8% during the 2nd quarter. Principal Financial Group Inc. now owns 12,275 shares of the software maker’s stock worth $2,744,000 after purchasing an additional 3,679 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Workday by 14.7% in the second quarter. Commonwealth Equity Services LLC now owns 22,468 shares of the software maker’s stock worth $5,023,000 after acquiring an additional 2,888 shares during the last quarter. Larson Financial Group LLC increased its position in Workday by 41,800.0% during the second quarter. Larson Financial Group LLC now owns 419 shares of the software maker’s stock worth $94,000 after acquiring an additional 418 shares during the period. Lake Street Advisors Group LLC raised its stake in Workday by 28.9% during the 2nd quarter. Lake Street Advisors Group LLC now owns 1,013 shares of the software maker’s stock valued at $226,000 after purchasing an additional 227 shares during the last quarter. Finally, Asset Dedication LLC acquired a new stake in Workday in the 2nd quarter worth $36,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on WDAY shares. Wells Fargo & Company increased their target price on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Morgan Stanley boosted their price objective on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Citigroup lowered their target price on Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Monday, November 25th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $270.00 target price (down from $285.00) on shares of Workday in a report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, Workday has an average rating of “Moderate Buy” and an average target price of $292.25.

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.