David A. Duffield Sells 71,672 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 71,672 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $248.58, for a total value of $17,816,225.76. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $25,602,994.26. This represents a 41.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Stock Up 0.5 %

WDAY stock traded up $1.29 during midday trading on Tuesday, hitting $251.91. The company’s stock had a trading volume of 1,984,241 shares, compared to its average volume of 2,417,064. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The company’s fifty day moving average price is $256.84 and its 200 day moving average price is $255.38. The stock has a market capitalization of $67.01 billion, a P/E ratio of 41.78, a PEG ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last issued its quarterly 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). Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. As a group, equities research analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Ratings Changes

WDAY has been the topic of a number of recent research reports. BMO Capital Markets raised their price objective on shares of Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. UBS Group raised their price objective on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Wednesday, February 26th. JMP Securities reiterated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a report on Thursday, February 6th. Finally, Mizuho increased their target price on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $300.36.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after acquiring an additional 4,517,272 shares during the period. Janus Henderson Group PLC grew its position in shares of Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after acquiring an additional 480,459 shares during the period. State Street Corp grew its position in shares of Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after acquiring an additional 67,380 shares during the period. Geode Capital Management LLC grew its position in shares of Workday by 61.9% in the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock valued at $1,193,105,000 after acquiring an additional 1,772,223 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Workday by 60.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker’s stock valued at $960,454,000 after acquiring an additional 1,406,088 shares during the period. Institutional investors own 89.81% of the company’s stock.

Workday Company Profile

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.