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 business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $261.75, for a total transaction of $14,658,000.00. Following the completion of the sale, the insider now directly owns 172,000 shares of the company’s stock, valued at approximately $45,021,000. The trade was a 24.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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

Shares of WDAY opened at $258.03 on Thursday. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The firm’s 50 day moving average price is $260.39 and its 200 day moving average price is $244.03. The company has a market cap of $68.64 billion, a P/E ratio of 42.79, a PEG ratio of 5.04 and a beta of 1.34. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the firm earned $0.47 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, research analysts forecast that Workday, Inc. will post 2.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Workday

Large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC grew its holdings in Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after acquiring an additional 480,459 shares in the last quarter. State Street Corp grew its holdings in Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after acquiring an additional 67,380 shares in the last quarter. Geode Capital Management LLC grew its holdings in Workday by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after acquiring an additional 76,618 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Workday by 0.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after acquiring an additional 14,159 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Workday by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock worth $482,133,000 after acquiring an additional 75,747 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WDAY has been the subject of several recent analyst reports. Barclays cut their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 target price on shares of Workday in a report on Thursday, September 19th. Oppenheimer reaffirmed an “outperform” rating and set a $300.00 target price on shares of Workday in a report on Tuesday, December 3rd. Morgan Stanley upped their target price on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 target price on shares of Workday in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $291.36.

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.