David A. Duffield Sells 70,090 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 70,090 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,215,826.41. This trade represents a 40.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Trading Down 2.0 %

NASDAQ:WDAY opened at $249.71 on Friday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The stock has a market cap of $66.42 billion, a P/E ratio of 41.41, a P/E/G ratio of 5.04 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a 50-day simple moving average of $262.56 and a 200-day simple moving average of $245.91.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the business posted $0.47 EPS. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, analysts anticipate that Workday, Inc. will post 2.58 earnings per share for the current fiscal year.

Institutional Trading of Workday

Several institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. increased its position in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares during the period. Kingsview Wealth Management LLC raised its position in Workday by 0.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock valued at $1,243,000 after purchasing an additional 43 shares during the last quarter. Opal Wealth Advisors LLC boosted its stake in Workday by 5.2% during the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after purchasing an additional 47 shares during the period. Mesirow Financial Investment Management Inc. grew its position in Workday by 3.4% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock worth $324,000 after purchasing an additional 48 shares during the last quarter. Finally, Fulton Bank N.A. grew its position in Workday by 1.3% during the 4th quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker’s stock worth $954,000 after purchasing an additional 48 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WDAY shares. Wells Fargo & Company increased their price objective on Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and increased their price target for the stock from $265.00 to $300.00 in a report on Wednesday. Morgan Stanley boosted their price objective on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Oppenheimer reaffirmed an “outperform” rating and set a $300.00 target price on shares of Workday in a research note on Tuesday, December 3rd. Finally, Piper Sandler reissued a “neutral” rating and issued a $270.00 price target (down from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.25.

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.