David A. Duffield Sells 71,672 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 71,672 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $248.58, for a total value of $17,816,225.76. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $25,602,994.26. This trade represents a 41.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Workday Stock Performance

Shares of WDAY stock opened at $252.50 on Thursday. The company has a fifty day moving average price of $256.84 and a two-hundred day moving average price of $255.28. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The stock has a market cap of $67.17 billion, a P/E ratio of 41.87, a P/E/G ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY) last issued its earnings results 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 firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. As a group, equities analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bristlecone Advisors LLC boosted its position in Workday by 49.6% during the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after purchasing an additional 968 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of Workday by 7.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after buying an additional 1,978 shares during the period. Nordea Investment Management AB grew its stake in Workday by 20.5% in the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after buying an additional 119,769 shares during the last quarter. Burns Matteson Capital Management LLC bought a new position in Workday in the 4th quarter valued at about $369,000. Finally, Worldquant Millennium Advisors LLC lifted its position in Workday by 387.0% during the third quarter. Worldquant Millennium Advisors LLC now owns 355,655 shares of the software maker’s stock worth $86,926,000 after acquiring an additional 282,632 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on WDAY shares. Stifel Nicolaus lifted their price objective on shares of Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and lifted their price target for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Daiwa America upgraded shares of Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. BMO Capital Markets lifted their target price on Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Finally, Scotiabank lowered their price target on Workday from $355.00 to $305.00 and set a “sector outperform” rating for the company in a report on Monday. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus price target 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.