Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 70,144 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 70,144 shares of Workday stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $250.26, for a total transaction of $17,554,237.44. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $25,776,029.22. This trade represents a 40.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Workday Trading Down 0.8 %

Workday stock traded down $2.04 during midday trading on Wednesday, hitting $250.79. 1,000,682 shares of the stock were exchanged, compared to its average volume of 2,418,664. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock’s 50-day simple moving average is $256.97 and its 200 day simple moving average is $255.03. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The stock has a market capitalization of $66.71 billion, a price-to-earnings ratio of 41.59, a PEG ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. On average, equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Ratings Changes

WDAY has been the subject of a number of research reports. Daiwa America raised Workday to a “strong-buy” rating in a report on Tuesday, March 4th. Stifel Nicolaus increased their price target on Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Guggenheim reissued a “neutral” rating on shares of Workday in a report on Wednesday, February 26th. BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a research note on Friday, February 14th. Finally, UBS Group raised their price target on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $300.36.

Hedge Funds Weigh In On Workday

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the period. Janus Henderson Group PLC boosted its position in shares of Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after buying an additional 480,459 shares during the period. State Street Corp grew its stake in shares of Workday by 1.4% in the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after buying an additional 67,380 shares in the last quarter. Geode Capital Management LLC lifted its stake in Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock worth $1,193,105,000 after acquiring an additional 1,772,223 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Workday by 60.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker’s stock valued at $960,454,000 after acquiring an additional 1,406,088 shares during the period. 89.81% of the stock is currently owned by hedge funds and other 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.