David Duffield Sells 82,025 Shares of Workday (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 82,025 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $212.19, for a total value of $17,404,884.75. Following the transaction, the insider owned 105,049 shares in the company, valued at approximately $22,290,347.31. The trade was a 43.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Workday Trading Up 0.8%

WDAY stock traded up $1.78 during midday trading on Thursday, hitting $216.62. The company had a trading volume of 2,669,165 shares, compared to its average volume of 2,636,639. The stock has a market cap of $57.84 billion, a price-to-earnings ratio of 91.02, a PEG ratio of 2.57 and a beta of 1.15. Workday, Inc. has a 52 week low of $205.33 and a 52 week high of $294.00. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34. The stock’s 50 day moving average price is $231.57 and its 200 day moving average price is $234.49.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, topping the consensus estimate of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Workday

Several hedge funds have recently made changes to their positions in WDAY. First Eagle Investment Management LLC bought a new stake in shares of Workday during the third quarter valued at approximately $556,252,000. Nuveen LLC purchased a new stake in Workday during the 1st quarter valued at $456,341,000. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Workday by 47.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock worth $1,406,463,000 after purchasing an additional 1,882,391 shares in the last quarter. Norges Bank bought a new stake in shares of Workday in the 2nd quarter worth $442,702,000. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of Workday by 47.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker’s stock worth $879,147,000 after purchasing an additional 1,211,659 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WDAY. Morgan Stanley upped their price objective on shares of Workday from $255.00 to $280.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 26th. Macquarie reaffirmed a “buy” rating on shares of Workday in a research report on Wednesday, November 26th. Bank of America dropped their price objective on Workday from $295.00 to $278.00 and set a “buy” rating for the company in a report on Tuesday, August 19th. JPMorgan Chase & Co. reduced their target price on Workday from $290.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Finally, Citizens Jmp restated a “market outperform” rating and set a $315.00 target price on shares of Workday in a report on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $281.16.

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.