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 firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.12, for a total transaction of $15,014,720.00. Following the completion of the sale, the insider now owns 899,000 shares in the company, valued at $241,039,880. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Trading Down 1.6 %

NASDAQ WDAY opened at $266.86 on Thursday. The stock has a market capitalization of $70.45 billion, a P/E ratio of 51.82, a P/E/G ratio of 6.71 and a beta of 1.32. The business has a 50 day simple moving average of $283.24 and a 200 day simple moving average of $260.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. Workday, Inc. has a one year low of $174.25 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the firm posted ($0.14) EPS. The company’s quarterly revenue was up 16.8% on a year-over-year basis. Research analysts expect that Workday, Inc. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

WDAY has been the subject of several research reports. JMP Securities reissued a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research note on Tuesday, February 27th. DA Davidson reissued a “neutral” rating and set a $300.00 price objective on shares of Workday in a report on Tuesday, February 27th. StockNews.com lowered Workday from a “strong-buy” rating to a “buy” rating in a research report on Monday. KeyCorp increased their target price on Workday from $310.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Finally, Barclays reduced their price target on Workday from $326.00 to $316.00 and set an “overweight” rating on the stock in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $293.61.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. SkyView Investment Advisors LLC acquired a new stake in shares of Workday in the 2nd quarter worth about $66,000. Beacon Capital Management LLC raised its stake in shares of Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after purchasing an additional 70 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Workday by 1,750.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after purchasing an additional 105 shares in the last quarter. CVA Family Office LLC purchased a new position in shares of Workday during the fourth quarter valued at approximately $33,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Workday during the first quarter worth $25,000. 89.81% of the stock is owned by institutional investors.

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.