David A. Duffield Sells 78,279 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 78,279 shares of Workday stock in a transaction on Monday, July 1st. The shares were sold at an average price of $223.89, for a total value of $17,525,885.31. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $23,059,998.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 Trading Down 0.5 %

WDAY opened at $225.55 on Friday. Workday, Inc. has a one year low of $202.01 and a one year high of $311.28. The company has a market cap of $59.77 billion, a P/E ratio of 40.64, a PEG ratio of 5.71 and a beta of 1.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.00 and a current ratio of 2.00. The business’s 50-day simple moving average is $230.71 and its 200-day simple moving average is $262.29.

Workday (NASDAQ:WDAY) last released its quarterly earnings data 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 return on equity of 5.78% and a net margin of 19.66%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the business posted $0.16 EPS. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, equities research analysts expect that Workday, Inc. will post 2.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WDAY. Bank of America reduced their target price on Workday from $330.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. Oppenheimer cut their price objective on Workday from $320.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. Mizuho cut their price objective on Workday from $325.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Stifel Nicolaus cut their price objective on Workday from $290.00 to $250.00 and set a “hold” rating on the stock in a report on Friday, May 24th. Finally, BMO Capital Markets cut their price objective on Workday from $338.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $282.11.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WDAY. Beacon Capital Management LLC grew its stake in Workday by 333.3% during the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after buying an additional 70 shares during the last quarter. VisionPoint Advisory Group LLC grew its stake in Workday by 215.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after buying an additional 84 shares during the last quarter. Crewe Advisors LLC purchased a new position in Workday during the 1st quarter worth approximately $27,000. Exchange Traded Concepts LLC grew its stake in Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after buying an additional 105 shares during the last quarter. Finally, Sound Income Strategies LLC grew its stake 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. Hedge funds and other 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.