Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $17,554,237.44 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 70,144 shares of Workday stock in a transaction 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 transaction, the insider now owns 102,997 shares in the company, valued at $25,776,029.22. This represents a 40.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Stock Down 2.5 %

Shares of NASDAQ:WDAY opened at $238.49 on Friday. The company has a market cap of $63.44 billion, a price-to-earnings ratio of 39.55, a PEG ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. 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 company has a 50-day moving average price of $256.67 and a 200 day moving average price of $254.83.

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

Institutional Investors Weigh In On Workday

Several hedge funds and other institutional investors have recently made changes to their positions in WDAY. Simplicity Wealth LLC boosted its stake in shares of Workday by 3.0% during the 4th quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock worth $330,000 after purchasing an additional 37 shares during the period. Marcum Wealth LLC boosted its position in shares of Workday by 4.4% during the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after buying an additional 41 shares during the period. Custom Index Systems LLC boosted its position in shares of Workday by 3.0% during the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock valued at $364,000 after buying an additional 41 shares during the period. AllSquare Wealth Management LLC grew its stake in shares of Workday by 19.4% during the fourth quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock valued at $65,000 after buying an additional 41 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its holdings in shares of Workday by 0.9% in the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WDAY. BNP Paribas upgraded Workday to a “strong-buy” rating in a research report on Friday, February 14th. StockNews.com downgraded Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Morgan Stanley cut shares of Workday from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $330.00 to $275.00 in a research note on Wednesday, February 19th. UBS Group upped their price target on shares of Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, Citigroup decreased their price objective on shares of Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $300.36.

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.