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 the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $276.95, for a total value of $15,509,200.00. Following the completion of the sale, the insider now directly owns 1,011,000 shares in the company, valued at $279,996,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Stock Down 1.4 %

WDAY opened at $273.62 on Thursday. Workday, Inc. has a fifty-two week low of $174.25 and a fifty-two week high of $311.28. The business has a 50-day moving average of $287.67 and a 200-day moving average of $258.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. The company has a market capitalization of $72.24 billion, a PE ratio of 53.13, a price-to-earnings-growth ratio of 6.89 and a beta of 1.33.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. Workday had a return on equity of 4.87% and a net margin of 19.02%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the business earned ($0.14) EPS. The business’s quarterly revenue was up 16.8% on a year-over-year basis. Equities research analysts forecast that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WDAY has been the topic of several analyst reports. KeyCorp increased their target price on Workday from $310.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. JPMorgan Chase & Co. increased their price target on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. DA Davidson reissued a “neutral” rating and issued a $300.00 price target on shares of Workday in a research note on Tuesday, February 27th. The Goldman Sachs Group increased their price target on Workday from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, Evercore ISI increased their price target on Workday from $310.00 to $350.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and a consensus target price of $293.61.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WDAY. Beacon Capital Management LLC raised its stake in shares of Workday by 333.3% in the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after acquiring an additional 70 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Workday in the 1st quarter valued at approximately $25,000. VisionPoint Advisory Group LLC raised its stake in shares of Workday by 215.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after acquiring an additional 84 shares in the last quarter. Clear Street Markets LLC bought a new position in shares of Workday in the 3rd quarter valued at approximately $29,000. Finally, Quarry LP acquired a new stake in Workday in the 2nd quarter valued at approximately $29,000. 89.81% of the stock is owned by institutional investors.

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.