David A. Duffield Sells 56,000 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $276.95, for a total transaction of $15,509,200.00. Following the completion of the transaction, the insider now directly owns 1,011,000 shares in the company, valued at approximately $279,996,450. The transaction was disclosed in a filing 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 transactions with the SEC.

Workday Stock Down 1.4 %

WDAY opened at $273.62 on Thursday. The stock has a market cap of $72.24 billion, a price-to-earnings ratio of 53.13, a price-to-earnings-growth ratio of 6.89 and a beta of 1.33. Workday, Inc. has a fifty-two week low of $174.25 and a fifty-two week high of $311.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The firm’s fifty day moving average is $287.67 and its 200 day moving average is $258.61.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.47 by $0.10. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.14) EPS. On average, sell-side analysts forecast that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WDAY has been the topic of several research analyst reports. Guggenheim reaffirmed a “sell” rating and issued a $190.00 price target on shares of Workday in a report on Tuesday, February 27th. Barclays reduced their price objective on Workday from $326.00 to $316.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 27th. UBS Group dropped their target price on shares of Workday from $315.00 to $300.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. KeyCorp raised their price objective on shares of Workday from $310.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Finally, JMP Securities reiterated a “market outperform” rating and set a $315.00 target price on shares of Workday in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $293.61.

Institutional Trading of Workday

Several hedge funds have recently bought and sold shares of the stock. HighPoint Advisor Group LLC purchased a new stake in Workday in the 4th quarter worth $826,000. Quadrature Capital Ltd bought a new stake in shares of Workday in the 4th quarter worth about $42,167,000. PNC Financial Services Group Inc. increased its holdings in shares of Workday by 55.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 25,720 shares of the software maker’s stock worth $7,100,000 after buying an additional 9,126 shares during the last quarter. Grayhawk Investment Strategies Inc. bought a new stake in shares of Workday in the 4th quarter worth about $721,000. Finally, Sivia Capital Partners LLC bought a new position in Workday during the 4th quarter valued at about $208,000. 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.