Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 66,455 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 66,455 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total value of $17,246,401.60. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $26,729,781.44. The trade was a 39.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Stock Performance

WDAY opened at $259.61 on Thursday. The firm’s 50-day moving average price is $258.98 and its 200-day moving average price is $255.49. The company has a market cap of $69.06 billion, a P/E ratio of 43.05, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00.

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

Wall Street Analysts Forecast Growth

WDAY has been the topic of several recent analyst reports. Morgan Stanley downgraded shares of Workday from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $330.00 to $275.00 in a research note on Wednesday, February 19th. Wells Fargo & Company raised their target price on shares of Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. BNP Paribas raised shares of Workday to a “strong-buy” rating in a research note on Friday, February 14th. Mizuho increased their price objective on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Loop Capital lifted their target price on Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, February 19th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $302.14.

Institutional Trading of Workday

Several large investors have recently added to or reduced their stakes in WDAY. Vanguard Group Inc. raised its stake in shares of Workday by 28.9% in the fourth 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 last quarter. Janus Henderson Group PLC raised its position in Workday by 10.7% during the 3rd 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 last quarter. State Street Corp raised its position in Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after buying an additional 67,380 shares during 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 valued at $1,193,105,000 after acquiring an additional 1,772,223 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Workday by 60.7% in 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 last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

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.