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

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $253.87, for a total value of $14,216,720.00. Following the completion of the transaction, the insider now directly owns 116,000 shares of the company’s stock, valued at $29,448,920. This represents a 32.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Down 1.8 %

NASDAQ WDAY traded down $4.46 during trading hours on Tuesday, hitting $249.68. The company’s stock had a trading volume of 2,222,449 shares, compared to its average volume of 1,901,767. The company has a market capitalization of $66.41 billion, a PE ratio of 41.41, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. The company has a current ratio of 2.05, a quick 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 $311.28. The company’s 50-day simple moving average is $261.38 and its two-hundred day simple moving average is $245.16.

Workday (NASDAQ:WDAY) last posted its earnings results 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 return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the company earned $0.47 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Research analysts anticipate that Workday, Inc. will post 2.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Royal Bank of Canada upped their price target on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group restated a “buy” rating and issued a $300.00 price objective on shares of Workday in a report on Friday, September 13th. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 target price on shares of Workday in a report on Thursday, September 19th. Oppenheimer reissued an “outperform” rating and issued a $300.00 price target on shares of Workday in a research note on Tuesday, December 3rd. Finally, Mizuho lifted 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. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $291.36.

Institutional Trading of Workday

Several institutional investors have recently made changes to their positions in WDAY. Capital Performance Advisors LLP bought a new position in shares of Workday during the third quarter valued at about $26,000. Goodman Advisory Group LLC purchased a new stake in Workday in the 2nd quarter valued at about $35,000. Meeder Asset Management Inc. lifted its position in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares in the last quarter. Asset Dedication LLC purchased a new position in shares of Workday in the 2nd quarter worth approximately $36,000. Finally, New Millennium Group LLC grew its holdings in shares of Workday by 177.4% in the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock valued at $36,000 after acquiring an additional 94 shares in the last quarter. 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.