Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $17,246,401.60 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 66,455 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $259.52, for a total value of $17,246,401.60. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,729,781.44. The trade was a 39.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Stock Up 2.4 %

Shares of NASDAQ WDAY opened at $259.61 on Thursday. The company has a market capitalization of $69.06 billion, a P/E ratio of 43.05, a P/E/G ratio of 3.55 and a beta of 1.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company has a 50 day simple moving average of $258.98 and a 200-day simple moving average of $255.49. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. On average, equities research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. KeyCorp lifted their target price on shares of Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Morgan Stanley cut shares of Workday from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. Needham & Company LLC reissued a “buy” rating and set a $300.00 target price on shares of Workday in a research note on Wednesday, February 26th. Citigroup dropped their target price on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and increased their price target for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $302.14.

Institutional Investors Weigh In On Workday

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the period. T. Rowe Price Investment Management Inc. acquired a new position in Workday during the fourth quarter worth $658,735,000. Norges Bank acquired a new position in Workday during the fourth quarter worth $645,710,000. Parnassus Investments LLC boosted its position in shares of Workday by 562.2% during the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after buying an additional 2,078,097 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Workday by 61.9% in the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock valued at $1,193,105,000 after buying an additional 1,772,223 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.