David A. Duffield Sells 65,221 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 65,221 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $268.29, for a total value of $17,498,142.09. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $27,633,065.13. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Price Performance

Shares of WDAY opened at $266.86 on Thursday. Workday, Inc. has a 12-month low of $174.25 and a 12-month high of $311.28. The business’s fifty day moving average is $283.24 and its 200 day moving average is $260.71. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The stock has a market cap of $70.45 billion, a P/E ratio of 51.82, a P/E/G ratio of 6.71 and a beta of 1.32.

Workday (NASDAQ:WDAY) last issued its earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. Workday had a return on equity of 4.87% and a net margin of 19.02%. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the business earned ($0.14) EPS. Workday’s quarterly revenue was up 16.8% compared to the same quarter last year. Sell-side analysts anticipate that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

WDAY has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price target on Workday from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. TheStreet raised Workday from a “c” rating to a “b-” rating in a research note on Monday, February 26th. Guggenheim reaffirmed a “sell” rating and issued a $190.00 price objective on shares of Workday in a research note on Tuesday, February 27th. Morgan Stanley lowered their price objective on Workday from $335.00 to $330.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. Finally, Citigroup upped their price objective on Workday from $270.00 to $293.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $293.61.

Hedge Funds Weigh In On Workday

A number of large investors have recently modified their holdings of the company. Marcum Wealth LLC raised its position in Workday by 9.7% in the 1st quarter. Marcum Wealth LLC now owns 823 shares of the software maker’s stock valued at $224,000 after buying an additional 73 shares during the last quarter. Park Avenue Securities LLC raised its position in Workday by 21.4% in the 1st quarter. Park Avenue Securities LLC now owns 6,628 shares of the software maker’s stock valued at $1,808,000 after buying an additional 1,169 shares during the last quarter. Wedmont Private Capital raised its position in Workday by 8.3% in the 1st quarter. Wedmont Private Capital now owns 1,095 shares of the software maker’s stock valued at $297,000 after buying an additional 84 shares during the last quarter. Banque Cantonale Vaudoise raised its position in Workday by 33.9% in the 1st quarter. Banque Cantonale Vaudoise now owns 16,941 shares of the software maker’s stock valued at $4,621,000 after buying an additional 4,292 shares during the last quarter. Finally, Fulton Bank N.A. raised its position in Workday by 4.5% in the 1st quarter. Fulton Bank N.A. now owns 7,653 shares of the software maker’s stock valued at $2,087,000 after buying an additional 333 shares during the last quarter. 89.81% of the stock is currently 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.