Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $17,525,885.31 in Stock

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

Workday Stock Up 1.6 %

WDAY stock opened at $229.13 on Friday. 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, Inc. has a twelve month low of $202.01 and a twelve month high of $311.28. The stock has a market cap of $60.72 billion, a P/E ratio of 41.28, a PEG ratio of 5.68 and a beta of 1.35. The business’s 50-day moving average price is $229.71 and its 200-day moving average price is $261.73.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.20. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 5.78%. Workday’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 EPS. On average, equities research analysts forecast that Workday, Inc. will post 2.12 EPS for the current year.

Hedge Funds Weigh In On Workday

Several hedge funds have recently modified their holdings of WDAY. Beacon Capital Management LLC lifted its stake in Workday by 333.3% in the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after purchasing an additional 70 shares in the last quarter. Crewe Advisors LLC purchased a new stake in shares of Workday during the 1st quarter worth approximately $27,000. Exchange Traded Concepts LLC boosted its position in shares of Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after acquiring an additional 105 shares during the last quarter. Sound Income Strategies LLC grew its holdings in shares of Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after purchasing an additional 49 shares in the last quarter. Finally, CVA Family Office LLC bought a new position in Workday during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WDAY. Morgan Stanley decreased their price objective on Workday from $330.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. Loop Capital decreased their price target on Workday from $280.00 to $240.00 and set a “hold” rating on the stock in a research report on Friday, May 24th. TD Cowen cut their price objective on shares of Workday from $330.00 to $290.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Mizuho decreased their target price on shares of Workday from $325.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Finally, The Goldman Sachs Group cut their price target on shares of Workday from $310.00 to $300.00 and set a “buy” rating for the company in a report on Friday, May 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and a consensus price target 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.