Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $17,584,753.60 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 70,003 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $25,872,846.40. This trade represents a 40.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Workday Price Performance

WDAY stock opened at $266.42 on Friday. The firm has a 50 day moving average of $249.96 and a 200-day moving average of $237.65. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The firm has a market capitalization of $70.60 billion, a P/E ratio of 44.18, a price-to-earnings-growth ratio of 4.98 and a beta of 1.34.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) 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 6.21%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the business posted $0.47 earnings per share. Workday’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, sell-side analysts predict that Workday, Inc. will post 2.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Workday

Several hedge funds have recently bought and sold shares of WDAY. Capital Performance Advisors LLP bought a new stake in Workday during the third quarter valued at approximately $26,000. SouthState Corp lifted its position in Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after purchasing an additional 129 shares during the last quarter. Crewe Advisors LLC raised its stake in shares of Workday by 56.6% during the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock worth $35,000 after acquiring an additional 56 shares in the last quarter. Goodman Advisory Group LLC purchased a new stake in shares of Workday in the 2nd quarter valued at $35,000. Finally, Meeder Asset Management Inc. grew its holdings 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 valued at $35,000 after purchasing an additional 43 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WDAY. KeyCorp raised their price objective on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. The Goldman Sachs Group raised their price objective on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Bank of America dropped their price objective on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Stifel Nicolaus raised their price objective on shares of Workday from $250.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $288.14.

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.