David A. Duffield Sells 57,000 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the completion of the sale, the insider now directly owns 505,000 shares in the company, valued at approximately $125,032,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Performance

Shares of WDAY opened at $248.29 on Monday. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $237.48 and a 200 day moving average price of $241.95. The firm has a market capitalization of $65.80 billion, a PE ratio of 44.74, a P/E/G ratio of 5.07 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the firm posted $0.40 EPS. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, sell-side analysts anticipate that Workday, Inc. will post 2.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Crewe Advisors LLC acquired a new position in shares of Workday in the first quarter worth about $27,000. Sound Income Strategies LLC boosted its holdings in shares of Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after buying an additional 49 shares during the period. SouthState Corp boosted its holdings in shares of Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares during the period. Pacific Center for Financial Services boosted its holdings in shares of Workday by 57.0% in the first quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock worth $43,000 after buying an additional 57 shares during the period. Finally, Goodman Advisory Group LLC acquired a new position in shares of Workday in the second quarter worth about $35,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on WDAY shares. JMP Securities reissued a “market outperform” rating and set a $315.00 price objective on shares of Workday in a report on Thursday. Barclays boosted their price objective on shares of Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Stifel Nicolaus boosted their price objective on shares of Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Needham & Company LLC decreased their price objective on shares of Workday from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $300.00 price objective on shares of Workday in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and a consensus price target of $286.48.

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.