Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 57,000 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the sale, the insider now owns 505,000 shares of the company’s stock, valued at $125,032,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Up 0.3 %

Shares of NASDAQ WDAY traded up $0.86 during midday trading on Friday, hitting $248.29. The company’s stock had a trading volume of 3,801,790 shares, compared to its average volume of 2,210,932. The business’s fifty day simple moving average is $237.12 and its two-hundred day simple moving average is $242.47. The firm has a market capitalization of $65.80 billion, a price-to-earnings ratio of 44.58, a price-to-earnings-growth ratio of 5.07 and a beta of 1.35. Workday, Inc. has a 1 year low of $199.81 and a 1 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.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share 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%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 earnings per share. On average, equities analysts predict that Workday, Inc. will post 2.39 EPS for the current year.

Institutional Trading of Workday

Hedge funds have recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in Workday in the first quarter valued at approximately $27,000. Sound Income Strategies LLC raised its holdings in Workday by 74.2% in the first 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 in the last quarter. SouthState Corp raised its holdings in Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after acquiring an additional 129 shares in the last quarter. Goodman Advisory Group LLC acquired a new stake in Workday in the second quarter valued at approximately $35,000. Finally, Asset Dedication LLC acquired a new stake in Workday during the second quarter worth approximately $36,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. cut their price objective on shares of Workday from $300.00 to $285.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Guggenheim restated a “sell” rating and set a $190.00 price objective on shares of Workday in a research report on Tuesday, June 25th. Bank of America increased their target price on shares of Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $300.00 target price on shares of Workday in a research note on Friday, September 13th. 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $286.48.

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.