David A. Duffield Sells 70,144 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 70,144 shares of Workday stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $250.26, for a total transaction of $17,554,237.44. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $25,776,029.22. The trade was a 40.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Workday Stock Down 2.5 %

NASDAQ:WDAY opened at $238.49 on Friday. The company’s 50 day moving average is $256.67 and its two-hundred day moving average is $254.83. The company has a market cap of $63.44 billion, a PE ratio of 39.55, a P/E/G ratio of 3.55 and a beta of 1.38. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. 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 (NASDAQ:WDAY) last released 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). The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WDAY. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price target on shares of Workday in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and lifted their target price for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Daiwa America raised Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. Scotiabank decreased their price objective on Workday from $355.00 to $305.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Finally, KeyCorp upped their price objective on shares of Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $300.36.

Institutional Investors Weigh In On Workday

A number of institutional investors and hedge funds have recently modified their holdings of WDAY. Vanguard Group Inc. raised its position in 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 buying an additional 4,517,272 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of Workday during the fourth quarter worth $658,735,000. Norges Bank acquired a new position in Workday during the fourth quarter valued at $645,710,000. Parnassus Investments LLC lifted its position in Workday by 562.2% during the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after purchasing an additional 2,078,097 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in 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 purchasing an additional 1,772,223 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.