Insider Selling: Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells 56,000 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the transaction, the insider now directly owns 60,000 shares in the company, valued at approximately $14,785,200. The trade was a 48.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large 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

Workday stock traded up $2.54 on Wednesday, reaching $248.57. The company’s stock had a trading volume of 3,172,725 shares, compared to its average volume of 2,167,478. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The company has a market cap of $66.12 billion, a price-to-earnings ratio of 41.22, a PEG ratio of 5.04 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The business’s fifty day moving average price is $262.75 and its 200 day moving average price is $246.44.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WDAY. Scotiabank assumed coverage on shares of Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price for the company. Mizuho upped their target price on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and lifted their price target for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Barclays lowered their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Finally, Citigroup cut their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $292.25.

Institutional Trading of Workday

Several hedge funds have recently modified their holdings of WDAY. Jackson Square Capital LLC acquired a new position in Workday during the 4th quarter worth $260,000. HB Wealth Management LLC raised its position in shares of Workday by 5.0% during the fourth quarter. HB Wealth Management LLC now owns 7,566 shares of the software maker’s stock worth $1,952,000 after acquiring an additional 360 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in shares of Workday by 11.3% during the fourth quarter. Arkadios Wealth Advisors now owns 3,525 shares of the software maker’s stock valued at $910,000 after acquiring an additional 357 shares during the period. Merit Financial Group LLC bought a new position in Workday in the fourth quarter valued at about $578,000. Finally, Procyon Advisors LLC increased its position in Workday by 2.5% in the fourth quarter. Procyon Advisors LLC now owns 8,502 shares of the software maker’s stock worth $2,194,000 after purchasing an additional 211 shares during the period. 89.81% of the stock is owned by institutional investors.

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.