Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 15,000 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 15,000 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $243.17, for a total transaction of $3,647,550.00. Following the completion of the sale, the insider now directly owns 45,000 shares in the company, valued at $10,942,650. This represents a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Stock Performance

Shares of NASDAQ:WDAY traded up $1.29 during trading on Tuesday, hitting $251.91. The company’s stock had a trading volume of 1,984,241 shares, compared to its average volume of 2,417,064. The company has a 50-day moving average of $256.84 and a 200-day moving average of $255.38. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a market cap of $67.01 billion, a price-to-earnings ratio of 41.78, a P/E/G ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. On average, sell-side analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Institutional Investors Weigh In On Workday

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WDAY. Vanguard Group Inc. raised its stake 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 acquiring an additional 4,517,272 shares during the period. T. Rowe Price Investment Management Inc. bought a new stake in Workday during the 4th quarter worth approximately $658,735,000. Norges Bank bought a new stake in Workday during the 4th quarter worth approximately $645,710,000. Parnassus Investments LLC raised its stake in Workday by 562.2% during the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after acquiring an additional 2,078,097 shares during the period. Finally, Geode Capital Management LLC raised its stake in Workday by 61.9% during 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 acquiring an additional 1,772,223 shares during the period. Institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley downgraded shares of Workday from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $330.00 to $275.00 in a research report on Wednesday, February 19th. Mizuho increased their price objective on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Needham & Company LLC reissued a “buy” rating and set a $300.00 price objective on shares of Workday in a research report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price objective on shares of Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Daiwa America raised shares of Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $300.36.

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.