Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $14,833,840.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $264.89, for a total value of $14,833,840.00. Following the completion of the sale, the insider now owns 843,000 shares in the company, valued at $223,302,270. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Trading Down 0.3 %

Shares of NASDAQ:WDAY opened at $257.02 on Thursday. Workday, Inc. has a 12-month low of $174.25 and a 12-month high of $311.28. The stock has a market cap of $67.85 billion, a PE ratio of 49.91, a P/E/G ratio of 6.44 and a beta of 1.32. The business has a 50 day moving average of $280.10 and a 200-day moving average of $262.03. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on WDAY. UBS Group cut their price target on Workday from $315.00 to $300.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Wells Fargo & Company boosted their price target on Workday from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Stifel Nicolaus lifted their target price on Workday from $250.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, February 27th. Morgan Stanley lowered their target price on Workday from $335.00 to $330.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 27th. Finally, BMO Capital Markets lifted their target price on Workday from $290.00 to $338.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $293.61.

Institutional Investors Weigh In On Workday

A number of institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Workday in the fourth quarter valued at approximately $1,491,149,000. Wellington Management Group LLP boosted its stake in shares of Workday by 37.4% in the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after buying an additional 1,406,153 shares during the period. Winslow Capital Management LLC boosted its stake in shares of Workday by 76.4% in the third quarter. Winslow Capital Management LLC now owns 2,310,619 shares of the software maker’s stock valued at $496,436,000 after buying an additional 1,000,922 shares during the period. Morgan Stanley boosted its stake in shares of Workday by 47.0% in the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after buying an additional 872,288 shares during the period. Finally, Amundi boosted its stake in shares of Workday by 233.9% in the fourth quarter. Amundi now owns 766,911 shares of the software maker’s stock valued at $125,712,000 after buying an additional 537,196 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.