David A. Duffield Sells 71,672 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 71,672 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at $25,602,994.26. This represents a 41.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 Down 0.8 %

Shares of WDAY opened at $250.47 on Friday. The stock has a market capitalization of $66.63 billion, a price-to-earnings ratio of 41.54, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The business’s 50 day simple moving average is $256.76 and its 200-day simple moving average is $255.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data 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). The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. As a group, equities analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Institutional Trading of Workday

Several hedge funds have recently modified their holdings of the company. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Workday during the 4th quarter worth approximately $18,401,000. Castle Rock Wealth Management LLC purchased a new stake in Workday during the 4th quarter valued at $1,089,000. Park Square Financial Group LLC purchased a new stake in Workday during the 4th quarter valued at $117,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Workday during the 4th quarter valued at $117,259,000. Finally, Azzad Asset Management Inc. ADV raised its holdings in Workday by 0.8% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 9,187 shares of the software maker’s stock valued at $2,371,000 after buying an additional 71 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WDAY has been the topic of several recent analyst reports. Scotiabank cut their target price on shares of Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a report on Monday. Redburn Atlantic initiated coverage on shares of Workday in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Royal Bank of Canada lifted their price target on shares of Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price target on shares of Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Daiwa America upgraded shares of Workday to a “strong-buy” rating in a report on Tuesday, March 4th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and a consensus price target of $300.36.

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.