Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 70,090 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 70,090 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,215,826.41. This trade represents a 40.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Stock Down 2.0 %

NASDAQ WDAY opened at $249.71 on Friday. The business has a fifty day moving average price of $262.56 and a two-hundred day moving average price of $245.72. The stock has a market capitalization of $66.42 billion, a PE ratio of 41.41, a PEG ratio of 5.04 and a beta of 1.34. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. 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 (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday’s revenue was up 15.8% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share. Equities analysts expect that Workday, Inc. will post 2.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Workday

Several hedge funds and other institutional investors have recently made changes to their positions in WDAY. Principal Financial Group Inc. increased its holdings in shares of Workday by 42.8% during the second quarter. Principal Financial Group Inc. now owns 12,275 shares of the software maker’s stock worth $2,744,000 after buying an additional 3,679 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Workday by 373.9% during the second quarter. Acadian Asset Management LLC now owns 27,538 shares of the software maker’s stock worth $6,152,000 after purchasing an additional 21,727 shares during the last quarter. Caprock Group LLC grew its holdings in shares of Workday by 39.0% during the second quarter. Caprock Group LLC now owns 2,660 shares of the software maker’s stock worth $595,000 after purchasing an additional 746 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Workday in the second quarter valued at approximately $65,000. Finally, Wedbush Securities Inc. raised its holdings in Workday by 18.4% in the 2nd quarter. Wedbush Securities Inc. now owns 2,390 shares of the software maker’s stock valued at $534,000 after buying an additional 371 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WDAY. Citigroup cut their price objective on Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Morgan Stanley raised their price target on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Wells Fargo & Company upped their price objective on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Mizuho raised their target price on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and upped their price target for the company from $265.00 to $300.00 in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $292.25.

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.