David A. Duffield Sells 78,279 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $223.89, for a total value of $17,525,885.31. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The sale was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Price Performance

WDAY opened at $225.55 on Friday. The stock has a fifty day moving average of $230.71 and a 200-day moving average of $262.29. The firm has a market capitalization of $59.77 billion, a P/E ratio of 40.64, a PEG ratio of 5.71 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 company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 earnings per share. Equities analysts forecast that Workday, Inc. will post 2.12 EPS for the current fiscal year.

Institutional Trading of Workday

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Workday by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after acquiring an additional 324,540 shares during the last quarter. Norges Bank acquired a new position in shares of Workday in the fourth quarter worth $1,491,149,000. Wellington Management Group LLP increased its stake in shares of Workday by 37.4% in the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock worth $1,109,348,000 after acquiring an additional 1,406,153 shares during the last quarter. Sustainable Growth Advisers LP increased its stake in shares of Workday by 9.7% in the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock worth $927,998,000 after acquiring an additional 301,463 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of Workday by 47.0% in the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after acquiring an additional 872,288 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of recent analyst reports. Bank of America decreased their price objective on Workday from $330.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, May 16th. Oppenheimer decreased their price target on Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price target on shares of Workday in a research note on Friday, May 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $350.00 price target on shares of Workday in a research note on Friday, May 24th. Finally, Mizuho decreased their price target on Workday from $325.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, Workday currently 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.