Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 56,000 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $223.80, for a total transaction of $12,532,800.00. Following the transaction, the insider now directly owns 674,000 shares of the company’s stock, valued at approximately $150,841,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $225.55 on Thursday. 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, Inc. has a 12-month low of $202.01 and a 12-month high of $311.28. The firm has a market capitalization of $59.77 billion, a price-to-earnings ratio of 40.64, a price-to-earnings-growth ratio of 5.71 and a beta of 1.35. The firm has a 50 day moving average of $231.32 and a 200 day moving average of $262.55.

Workday (NASDAQ:WDAY) last announced its earnings results 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 company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. Workday’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period last year, the firm earned $0.16 EPS. On average, research analysts anticipate that Workday, Inc. will post 2.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Oppenheimer cut their price target on Workday from $320.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Morgan Stanley cut their target price on Workday from $330.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. TD Cowen dropped their price target on shares of Workday from $330.00 to $290.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Royal Bank of Canada reduced their price objective on shares of Workday from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Finally, Jefferies Financial Group cut their price target on shares of Workday from $350.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $282.11.

Hedge Funds Weigh In On Workday

Several large investors have recently added to or reduced their stakes in WDAY. Beacon Capital Management LLC increased its stake in shares of Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after purchasing an additional 70 shares in the last quarter. VisionPoint Advisory Group LLC increased its stake in Workday by 215.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after buying an additional 84 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Workday in the 1st quarter worth $27,000. Exchange Traded Concepts LLC raised its holdings in Workday by 1,750.0% during the fourth 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. Finally, Sound Income Strategies LLC lifted its position in shares of Workday by 74.2% in the first 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 in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

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.