Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $14,879,200.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $265.70, for a total value of $14,879,200.00. Following the completion of the transaction, the insider now directly owns 228,000 shares in the company, valued at approximately $60,579,600. The trade was a 19.72 % 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 Stock Down 1.2 %

Shares of WDAY stock opened at $266.24 on Friday. The stock has a market cap of $70.82 billion, a P/E ratio of 44.15, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a fifty day moving average price of $259.48 and a 200 day moving average price of $242.97. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28.

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

Hedge Funds Weigh In On Workday

A number of hedge funds have recently modified their holdings of WDAY. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Workday by 2.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 17,068 shares of the software maker’s stock valued at $3,816,000 after acquiring an additional 373 shares during the period. Financial Advocates Investment Management increased its stake in shares of Workday by 7.8% in the second quarter. Financial Advocates Investment Management now owns 2,482 shares of the software maker’s stock valued at $555,000 after buying an additional 179 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of Workday by 7.4% in the second quarter. Whittier Trust Co. now owns 2,347 shares of the software maker’s stock valued at $525,000 after buying an additional 161 shares during the last quarter. Burney Co. grew its holdings in Workday by 56.3% during the 2nd quarter. Burney Co. now owns 6,990 shares of the software maker’s stock worth $1,563,000 after acquiring an additional 2,519 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Workday in the 2nd quarter valued at about $57,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WDAY has been the topic of a number of research reports. Bank of America dropped their price objective on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. StockNews.com upgraded shares of Workday from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research note on Wednesday, September 18th. Mizuho increased their target price on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Citigroup reduced their price target on Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus price target of $291.36.

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.