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 stock in a transaction on Monday, December 30th. The stock was sold at an average price of $261.75, for a total value of $14,658,000.00. Following the completion of the transaction, the insider now owns 172,000 shares in the company, valued at approximately $45,021,000. This represents a 24.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Performance

Shares of Workday stock traded down $3.97 during trading hours on Tuesday, reaching $258.03. The company had a trading volume of 1,587,674 shares, compared to its average volume of 2,438,601. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The firm has a market cap of $68.64 billion, a PE ratio of 42.79, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. The business has a fifty day simple moving average of $259.85 and a 200 day simple moving average of $243.59.

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

Institutional Trading of Workday

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in Workday in the 3rd quarter worth about $26,000. Meeder Asset Management Inc. increased its position in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares during the last quarter. True Wealth Design LLC raised its stake in Workday by 4,766.7% in the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after purchasing an additional 143 shares in the last quarter. New Millennium Group LLC lifted its position in Workday by 177.4% during the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock valued at $36,000 after purchasing an additional 94 shares during the last quarter. Finally, SouthState Corp lifted its position in Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after purchasing an additional 129 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Oppenheimer restated an “outperform” rating and set a $300.00 price objective on shares of Workday in a report on Tuesday, December 3rd. Mizuho raised their price target on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Royal Bank of Canada boosted their price objective on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. StockNews.com raised Workday from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $300.00 price target on shares of Workday in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $291.36.

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.