Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $13,552,560.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $242.01, for a total value of $13,552,560.00. Following the completion of the transaction, the insider now directly owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Price Performance

Shares of WDAY stock opened at $243.27 on Friday. The firm has a fifty day simple moving average of $244.56 and a 200-day simple moving average of $238.43. The company has a market capitalization of $64.47 billion, a PE ratio of 43.83, a price-to-earnings-growth ratio of 4.81 and a beta of 1.35. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the firm earned $0.40 earnings per share. The company’s revenue was up 16.5% on a year-over-year basis. Equities research analysts anticipate that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Workday

Several hedge funds and other institutional investors have recently bought and sold shares of WDAY. William Blair Investment Management LLC increased its stake in shares of Workday by 17.6% in the first quarter. William Blair Investment Management LLC now owns 32,442 shares of the software maker’s stock worth $8,849,000 after buying an additional 4,865 shares during the last quarter. ORG Partners LLC raised its stake in shares of Workday by 3,717.9% in the 2nd quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after purchasing an additional 3,123 shares in the last quarter. Nordea Investment Management AB grew its stake in Workday by 3.0% in the first quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock worth $128,851,000 after purchasing an additional 13,502 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Workday by 42.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 13,380 shares of the software maker’s stock valued at $3,649,000 after buying an additional 3,965 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Workday by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after buying an additional 324,540 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on WDAY shares. The Goldman Sachs Group boosted their target price on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $285.00 target price on shares of Workday in a research note on Wednesday, September 18th. Loop Capital increased their price target on Workday from $240.00 to $255.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Evercore ISI dropped their target price on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Finally, KeyCorp lifted their price target on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and an average price target of $287.04.

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.