Insider Selling: Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells 56,000 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $236.90, for a total transaction of $13,266,400.00. Following the completion of the transaction, the insider now directly owns 337,000 shares in the company, valued at $79,835,300. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Up 1.8 %

WDAY stock opened at $245.16 on Friday. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a market capitalization of $64.97 billion, a price-to-earnings ratio of 44.13, a price-to-earnings-growth ratio of 4.81 and a beta of 1.35. The business’s 50 day moving average price is $241.00 and its two-hundred day moving average price is $239.51. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the company earned $0.40 earnings per share. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. As a group, analysts forecast that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of WDAY. The Manufacturers Life Insurance Company grew its holdings in Workday by 79.1% in the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after purchasing an additional 1,016,394 shares during the period. Van ECK Associates Corp boosted its position in shares of Workday by 17,345.2% in the 2nd quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock worth $208,068,000 after purchasing an additional 925,366 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Workday by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock worth $3,988,549,000 after buying an additional 437,215 shares during the last quarter. D1 Capital Partners L.P. increased its position in Workday by 152.1% during the 2nd quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock valued at $115,804,000 after buying an additional 312,500 shares in the last quarter. Finally, Sustainable Growth Advisers LP raised its stake in Workday by 9.7% during the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after buying an additional 301,463 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WDAY. JMP Securities reissued a “market outperform” rating and issued a $315.00 target price on shares of Workday in a research note on Thursday, September 19th. Bank of America increased their price objective on Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley dropped their target price on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. KeyCorp increased their price target on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, The Goldman Sachs Group boosted their price objective on shares of Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average target price of $287.04.

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.