David A. Duffield Sells 56,000 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Monday, January 13th. The shares were sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the completion of the sale, the insider now directly owns 60,000 shares of the company’s stock, valued at approximately $14,785,200. The trade was a 48.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Price Performance

Workday stock opened at $249.64 on Friday. The business has a 50 day simple moving average of $262.54 and a 200 day simple moving average of $246.48. 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 company has a market capitalization of $66.40 billion, a PE ratio of 41.40, a price-to-earnings-growth ratio of 4.51 and a beta of 1.34. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the business earned $0.47 earnings per share. The business’s revenue was up 15.8% on a year-over-year basis. On average, sell-side analysts forecast that Workday, Inc. will post 2.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WDAY. Citigroup cut their target price on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday. Barclays reduced their target price on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Guggenheim upgraded Workday from a “sell” rating to a “neutral” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Finally, Morgan Stanley raised their target price on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $292.25.

Hedge Funds Weigh In On Workday

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its stake in shares of Workday by 12.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 21,575 shares of the software maker’s stock valued at $5,567,000 after acquiring an additional 2,347 shares during the last quarter. Park Place Capital Corp increased its holdings in Workday by 13.6% during the 4th quarter. Park Place Capital Corp now owns 592 shares of the software maker’s stock valued at $153,000 after purchasing an additional 71 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Workday by 0.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 23,962 shares of the software maker’s stock valued at $6,183,000 after purchasing an additional 112 shares in the last quarter. Simon Quick Advisors LLC raised its position in Workday by 4.2% in the 4th quarter. Simon Quick Advisors LLC now owns 1,377 shares of the software maker’s stock valued at $355,000 after purchasing an additional 56 shares during the last quarter. Finally, Atomi Financial Group Inc. acquired a new position in Workday in the fourth quarter worth $344,000. 89.81% of the stock is currently 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.