Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells 70,144 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 70,144 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $250.26, for a total transaction of $17,554,237.44. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $25,776,029.22. This represents a 40.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Price Performance

Shares of WDAY traded down $2.04 during midday trading on Wednesday, hitting $250.79. 1,000,682 shares of the company traded hands, compared to its average volume of 2,418,664. 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, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The firm has a 50 day moving average of $256.97 and a 200-day moving average of $255.03. The stock has a market cap of $66.71 billion, a price-to-earnings ratio of 41.59, a PEG ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. On average, analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WDAY shares. Guggenheim reissued a “neutral” rating on shares of Workday in a research report on Wednesday, February 26th. Bank of America cut their price target on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. UBS Group boosted their target price on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Royal Bank of Canada raised their price target on shares of Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Finally, BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a report on Friday, February 14th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $300.36.

Institutional Trading of Workday

Several institutional investors and hedge funds have recently modified their holdings of WDAY. Vanguard Group Inc. increased its holdings in Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in Workday in the fourth quarter worth about $658,735,000. Norges Bank bought a new position in Workday during the 4th quarter worth about $645,710,000. Parnassus Investments LLC raised its holdings in shares of Workday by 562.2% in the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after purchasing an additional 2,078,097 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Workday by 61.9% in the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock worth $1,193,105,000 after purchasing an additional 1,772,223 shares during the period. Institutional investors own 89.81% of the company’s stock.

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.