Insider Selling: Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells 57,000 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the sale, the insider now directly owns 505,000 shares in the company, valued at approximately $125,032,950. The transaction was disclosed in a legal filing with the SEC, which is available at 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

NASDAQ:WDAY traded up $0.86 during trading hours on Friday, reaching $248.29. 3,801,790 shares of the company were exchanged, compared to its average volume of 2,210,932. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock’s 50-day moving average is $237.12 and its 200-day moving average is $242.47. The firm has a market cap of $65.80 billion, a PE ratio of 44.58, a price-to-earnings-growth ratio of 5.07 and a beta of 1.35. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share. On average, sell-side analysts anticipate that Workday, Inc. will post 2.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on WDAY shares. Evercore ISI dropped their target price on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Jefferies Financial Group dropped their target price on shares of Workday from $350.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Mizuho dropped their target price on shares of Workday from $325.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Robert W. Baird dropped their price objective on shares of Workday from $316.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. Finally, Stifel Nicolaus upped their price objective on shares of Workday from $250.00 to $270.00 and gave the company a “hold” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus price target of $286.48.

Hedge Funds Weigh In On Workday

A number of large investors have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC raised its position in shares of Workday by 17.6% in the first quarter. William Blair Investment Management LLC now owns 32,442 shares of the software maker’s stock valued at $8,849,000 after buying an additional 4,865 shares during the last quarter. Assetmark Inc. raised its position in shares of Workday by 9.9% in the fourth quarter. Assetmark Inc. now owns 21,414 shares of the software maker’s stock valued at $5,912,000 after buying an additional 1,933 shares during the last quarter. ORG Partners LLC raised its position in shares of Workday by 3,717.9% in the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after buying an additional 3,123 shares during the last quarter. Bornite Capital Management LP acquired a new stake in shares of Workday in the fourth quarter valued at about $34,508,000. Finally, Nordea Investment Management AB raised its position in shares of Workday by 3.0% in the first quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock valued at $128,851,000 after buying an additional 13,502 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.