David A. Duffield Sells 56,000 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.87, for a total transaction of $14,216,720.00. Following the completion of the transaction, the insider now owns 116,000 shares in the company, valued at $29,448,920. The trade was a 32.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 Price Performance

Shares of NASDAQ:WDAY opened at $254.69 on Friday. 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 firm has a market cap of $67.75 billion, a price-to-earnings ratio of 42.24, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. The business has a 50-day simple moving average of $262.35 and a two-hundred day simple moving average of $245.50. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating 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 company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned $0.47 earnings per share. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, analysts expect that Workday, Inc. will post 2.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WDAY has been the subject of a number of recent analyst reports. Loop Capital lowered their price target on Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. Guggenheim upgraded Workday from a “sell” rating to a “neutral” rating in a report on Monday. Citigroup cut their price target on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Piper Sandler restated a “neutral” rating and issued a $270.00 price objective (down from $285.00) on shares of Workday in a report on Wednesday, November 27th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Workday in a research report on Wednesday, September 18th. Seven equities research analysts have rated the stock with a hold rating and twenty-two have issued 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.

Institutional Trading of Workday

Large investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Workday in the third quarter valued at about $26,000. Goodman Advisory Group LLC purchased a new position in shares of Workday in the second quarter worth approximately $35,000. Meeder Asset Management Inc. grew its position in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares during the period. Asset Dedication LLC purchased a new stake in Workday during the second quarter valued at approximately $36,000. Finally, New Millennium Group LLC raised its position in Workday by 177.4% in the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after acquiring an additional 94 shares during the period. Institutional investors own 89.81% of the company’s stock.

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.