Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $3,647,550.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $243.17, for a total transaction of $3,647,550.00. Following the transaction, the insider now directly owns 45,000 shares of the company’s stock, valued at approximately $10,942,650. This represents a 25.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Trading Up 0.5 %

NASDAQ:WDAY traded up $1.29 during midday trading on Tuesday, reaching $251.91. 1,984,241 shares of the stock traded hands, compared to its average volume of 2,417,064. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company has a fifty day moving average of $256.84 and a 200 day moving average of $255.38. The stock has a market capitalization of $67.01 billion, a P/E ratio of 41.78, a PEG ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, research analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on WDAY shares. Mizuho boosted their price target on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Bank of America cut their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Redburn Atlantic started coverage on shares of Workday in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Daiwa America raised shares of Workday to a “strong-buy” rating in a research note on Tuesday, March 4th. Finally, UBS Group boosted their price target on shares of Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $300.36.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Lansforsakringar Fondforvaltning AB publ purchased a new position in Workday during the 4th quarter valued at $18,401,000. Castle Rock Wealth Management LLC purchased a new position in Workday during the 4th quarter valued at $1,089,000. Park Square Financial Group LLC purchased a new position in Workday during the 4th quarter valued at $117,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Workday in the 4th quarter worth about $117,259,000. Finally, Azzad Asset Management Inc. ADV grew its position in shares of Workday by 0.8% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 9,187 shares of the software maker’s stock worth $2,371,000 after buying an additional 71 shares during the period. 89.81% of the stock is owned by hedge funds and other 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.