Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 57,000 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the completion of the transaction, the insider now owns 284,000 shares in the company, valued at approximately $78,188,040. The trade was a 16.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $273.04 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The firm has a fifty day moving average price of $257.01 and a 200-day moving average price of $240.88. The stock has a market cap of $72.63 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the business posted $0.47 EPS. Workday’s revenue for the quarter was up 15.8% compared to the same quarter last year. Equities analysts anticipate that Workday, Inc. will post 2.58 earnings per share for the current fiscal year.

Institutional Trading of Workday

Several institutional investors have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in Workday in the 3rd quarter worth approximately $26,000. Meeder Asset Management Inc. grew its stake in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares in the last quarter. True Wealth Design LLC lifted its stake in Workday by 4,766.7% in the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after purchasing an additional 143 shares in the last quarter. New Millennium Group LLC boosted its holdings in shares of Workday by 177.4% during the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock valued at $36,000 after purchasing an additional 94 shares during the last quarter. Finally, SouthState Corp grew its position in shares of Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after purchasing an additional 129 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WDAY. Oppenheimer reiterated an “outperform” rating and issued a $300.00 target price on shares of Workday in a research note on Tuesday, December 3rd. Royal Bank of Canada increased their target price on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday. Canaccord Genuity Group restated a “buy” rating and issued a $300.00 price target on shares of Workday in a research note on Friday, September 13th. DA Davidson increased their price objective on Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Workday currently has an average rating of “Moderate Buy” and an average price target of $291.36.

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.