Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 70,090 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 70,090 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total value of $17,840,007.70. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $26,215,826.41. This trade represents a 40.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Workday Stock Performance

NASDAQ WDAY traded down $4.98 on Friday, reaching $249.71. The stock had a trading volume of 1,989,634 shares, compared to its average volume of 1,889,445. The stock has a market cap of $66.42 billion, a P/E ratio of 41.41, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The business’s 50-day moving average price is $262.35 and its 200 day moving average price is $245.50. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Workday’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 EPS. As a group, equities analysts expect that Workday, Inc. will post 2.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WDAY. Barclays cut their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. StockNews.com raised Workday from a “hold” rating to a “buy” rating in a research report on Monday. Scotiabank initiated coverage on Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $300.00 target price on shares of Workday in a research note on Monday, November 25th. Finally, The Goldman Sachs Group increased their price target on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Seven investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $292.25.

Institutional Investors Weigh In On Workday

Hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC increased 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 purchasing an additional 480,459 shares during the period. State Street Corp boosted its stake in shares of Workday by 1.4% in the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after buying an additional 67,380 shares in the last quarter. Geode Capital Management LLC grew its holdings in Workday by 2.7% during the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after acquiring an additional 76,618 shares during the period. The Manufacturers Life Insurance Company raised its position in Workday by 0.6% in the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after acquiring an additional 14,159 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Workday by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock valued at $482,133,000 after acquiring an additional 75,747 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

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.