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

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $265.70, for a total transaction of $14,879,200.00. Following the transaction, the insider now owns 228,000 shares of the company’s stock, valued at $60,579,600. This trade represents a 19.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Up 0.1 %

Shares of NASDAQ:WDAY opened at $269.38 on Friday. The business’s 50 day moving average is $259.05 and its 200 day moving average is $242.40. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The stock has a market cap of $71.66 billion, a price-to-earnings ratio of 44.67, a PEG ratio of 5.04 and a beta of 1.34. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last posted 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. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 EPS. On average, sell-side analysts forecast that Workday, Inc. will post 2.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of recent research reports. Wells Fargo & Company upped their target price on Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Bank of America cut their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Needham & Company LLC restated a “buy” rating and issued a $300.00 price target on shares of Workday in a research report on Monday, November 25th. StockNews.com upgraded shares of Workday from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Oppenheimer restated an “outperform” rating and issued a $300.00 price objective on shares of Workday in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $291.36.

Institutional Investors Weigh In On Workday

Institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its stake in shares of Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in Workday by 0.9% in the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after purchasing an additional 43 shares during the last quarter. Opal Wealth Advisors LLC boosted its position in Workday by 5.2% in the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after purchasing an additional 47 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its stake in Workday by 3.4% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock valued at $324,000 after purchasing an additional 48 shares during the period. Finally, Concord Wealth Partners increased its position in shares of Workday by 3.0% during the 3rd quarter. Concord Wealth Partners now owns 1,765 shares of the software maker’s stock valued at $431,000 after purchasing an additional 51 shares during the last quarter. 89.81% of the stock is owned by 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.