Insider Selling: Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells 78,279 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 78,279 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $23,059,998.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Performance

WDAY opened at $226.76 on Wednesday. The firm has a market capitalization of $60.09 billion, a PE ratio of 40.86, a P/E/G ratio of 5.64 and a beta of 1.35. Workday, Inc. has a 12-month low of $202.01 and a 12-month high of $311.28. The firm has a 50 day moving average of $231.92 and a two-hundred day moving average of $262.87. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 5.78%. The business’s revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the company earned $0.16 EPS. On average, analysts anticipate that Workday, Inc. will post 2.12 EPS for the current year.

Institutional Investors Weigh In On Workday

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Beacon Capital Management LLC grew its stake in 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 during the period. Crewe Advisors LLC acquired a new stake in Workday in the 1st quarter valued at $27,000. Exchange Traded Concepts LLC grew its stake in Workday by 1,750.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after acquiring an additional 105 shares during the period. Sound Income Strategies LLC grew its stake in Workday by 74.2% in the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after acquiring an additional 49 shares during the period. Finally, CVA Family Office LLC acquired a new stake in Workday in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. StockNews.com cut shares of Workday from a “strong-buy” rating to a “buy” rating in a report on Monday, April 8th. Oppenheimer dropped their target price on shares of Workday from $320.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. The Goldman Sachs Group dropped their target price on shares of Workday from $310.00 to $300.00 and set a “buy” rating on the stock in a report on Friday, May 24th. TD Cowen dropped their target price on shares of Workday from $330.00 to $290.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Finally, JMP Securities reiterated a “market outperform” rating and set a $315.00 target price on shares of Workday in a report on Friday, May 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $282.11.

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.