David A. Duffield Sells 57,000 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total value of $14,112,630.00. Following the completion of the transaction, the insider now directly owns 505,000 shares of the company’s stock, valued at $125,032,950. The transaction was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Workday Stock Performance

WDAY stock opened at $248.29 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a market cap of $65.80 billion, a PE ratio of 44.74, a P/E/G ratio of 5.07 and a beta of 1.35. The business has a 50 day moving average of $237.48 and a 200-day moving average of $242.12. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. As a group, sell-side analysts expect that Workday, Inc. will post 2.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

WDAY has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Guggenheim reaffirmed a “sell” rating and set a $190.00 price objective on shares of Workday in a research report on Tuesday, June 25th. Needham & Company LLC cut their target price on shares of Workday from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday. Bank of America lifted their price target on shares of Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company increased their price objective on shares of Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $286.48.

Institutional Trading of Workday

A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in shares of Workday by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 199,304 shares of the software maker’s stock valued at $55,020,000 after acquiring an additional 3,231 shares during the period. Great Lakes Advisors LLC purchased a new position in Workday in the fourth quarter valued at approximately $521,000. PNC Financial Services Group Inc. grew its holdings in Workday by 55.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 25,720 shares of the software maker’s stock valued at $7,100,000 after purchasing an additional 9,126 shares during the period. Coldstream Capital Management Inc. purchased a new stake in Workday in the fourth quarter worth $481,000. Finally, D.A. Davidson & CO. raised its stake in shares of Workday by 3.5% in the fourth quarter. D.A. Davidson & CO. now owns 1,241 shares of the software maker’s stock valued at $343,000 after buying an additional 42 shares during the period. Hedge funds and other institutional investors 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.