Insider Selling: Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $12,240,480.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $218.58, for a total value of $12,240,480.00. Following the sale, the insider now directly owns 730,000 shares in the company, valued at $159,563,400. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Performance

NASDAQ:WDAY opened at $223.36 on Friday. The firm has a market capitalization of $59.19 billion, a PE ratio of 40.04, a price-to-earnings-growth ratio of 5.49 and a beta of 1.33. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00. The business’s fifty day moving average price is $233.71 and its 200 day moving average price is $264.05. Workday, Inc. has a 12 month low of $202.01 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the firm posted $0.16 EPS. The company’s revenue was up 18.1% on a year-over-year basis. On average, sell-side analysts anticipate that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on WDAY. Robert W. Baird lowered their price objective on Workday from $316.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Evercore ISI lowered their price target on Workday from $350.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Bank of America reduced their target price on shares of Workday from $330.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. Canaccord Genuity Group reduced their price objective on Workday from $305.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Finally, TD Cowen reduced their target price on shares of Workday from $330.00 to $290.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $282.11.

Institutional Trading of Workday

A number of large investors have recently made changes to their positions in the company. Beacon Capital Management LLC increased its stake in Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after purchasing an additional 70 shares during the period. Crewe Advisors LLC purchased a new position in Workday in the 1st quarter valued at $27,000. Exchange Traded Concepts LLC increased its stake in Workday by 1,750.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after buying an additional 105 shares during the period. Sound Income Strategies LLC raised its position in Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after buying an additional 49 shares during the last quarter. Finally, CVA Family Office LLC acquired a new stake in shares of Workday in the 4th quarter worth $33,000. 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.