Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $13,799,520.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the transaction, the insider now directly owns 60,000 shares of the company’s stock, valued at $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large 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 WDAY stock opened at $249.64 on Friday. The stock’s fifty day simple moving average is $262.54 and its 200-day simple moving average is $246.48. The company has a market capitalization of $66.40 billion, a price-to-earnings ratio of 41.40, a P/E/G ratio of 4.51 and a beta of 1.34. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. On average, sell-side analysts predict that Workday, Inc. will post 2.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on WDAY. StockNews.com lowered Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Wells Fargo & Company increased their target price on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Citigroup dropped their price target on shares of Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday. Mizuho increased their price objective on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Royal Bank of Canada boosted their target price on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $292.25.

Institutional Investors Weigh In On Workday

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WDAY. Sanctuary Advisors LLC grew its holdings in shares of Workday by 7.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after acquiring an additional 1,978 shares in the last quarter. Grafton Street Partners Fund LP acquired a new stake in Workday during the third quarter valued at $4,424,000. ICICI Prudential Asset Management Co Ltd grew its stake in Workday by 32.4% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after purchasing an additional 7,802 shares in the last quarter. Nordea Investment Management AB increased its position in Workday by 20.5% in the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after purchasing an additional 119,769 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after purchasing an additional 118,180 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.