Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $13,266,400.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $236.90, for a total transaction of $13,266,400.00. Following the completion of the transaction, the insider now directly owns 337,000 shares in the company, valued at $79,835,300. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Trading Up 0.5 %

Workday stock traded up $1.30 during trading on Wednesday, hitting $240.77. The company had a trading volume of 1,237,129 shares, compared to its average volume of 2,171,592. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. 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 company’s 50 day simple moving average is $240.73 and its 200-day simple moving average is $239.50. The stock has a market cap of $63.80 billion, a price-to-earnings ratio of 43.10, a price-to-earnings-growth ratio of 4.81 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter last year, the company posted $0.40 EPS. The firm’s revenue was up 16.5% compared to the same quarter last year. As a group, analysts expect that Workday, Inc. will post 2.4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WDAY. Morgan Stanley decreased their price target on shares of Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Evercore ISI decreased their target price on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Needham & Company LLC decreased their target price on shares of Workday from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Wells Fargo & Company raised their target price on shares of Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Loop Capital raised their target price on shares of Workday from $240.00 to $255.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. One equities research 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $287.04.

Hedge Funds Weigh In On Workday

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WDAY. Crewe Advisors LLC purchased a new position in Workday in the 1st quarter valued at approximately $27,000. Sound Income Strategies LLC lifted its position in shares of Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after purchasing an additional 49 shares during the last quarter. SouthState Corp lifted its position in shares of Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after purchasing an additional 129 shares during the last quarter. Goodman Advisory Group LLC purchased a new stake in shares of Workday during the 2nd quarter worth $35,000. Finally, Asset Dedication LLC purchased a new stake in shares of Workday during the 2nd quarter worth $36,000. 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.