David A. Duffield Sells 70,144 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 70,144 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $250.26, for a total transaction of $17,554,237.44. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,776,029.22. This trade represents a 40.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Stock Performance

Shares of WDAY opened at $250.79 on Thursday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm’s fifty day simple moving average is $257.01 and its two-hundred day simple moving average is $255.00. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The stock has a market capitalization of $66.71 billion, a P/E ratio of 41.59, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. As a group, analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WDAY. Loop Capital raised their target price on Workday from $242.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, February 19th. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research note on Thursday, February 6th. Stifel Nicolaus lifted their target price on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a research report on Wednesday, February 26th. Oppenheimer increased their target price on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Finally, Mizuho lifted their price target on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus target price of $300.36.

Institutional Trading of Workday

Several hedge funds have recently modified their holdings of WDAY. Lansforsakringar Fondforvaltning AB publ bought a new stake in Workday in the fourth quarter valued at $18,401,000. Castle Rock Wealth Management LLC bought a new stake in Workday in the 4th quarter valued at about $1,089,000. Park Square Financial Group LLC acquired a new position in Workday during the 4th quarter worth approximately $117,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Workday in the fourth quarter worth approximately $117,259,000. Finally, Azzad Asset Management Inc. ADV grew its stake in Workday by 0.8% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 9,187 shares of the software maker’s stock valued at $2,371,000 after acquiring an additional 71 shares during the period. Institutional investors own 89.81% of the company’s stock.

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.