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

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David A. Duffield sold 56,000 shares of the firm's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the transaction, the insider now owns 60,000 shares in the company, valued at $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Workday Price Performance

Shares of WDAY traded up $2.54 during trading hours on Wednesday, hitting $248.57. 3,172,725 shares of the company were exchanged, compared to its average volume of 2,167,478. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market capitalization of $66.12 billion, a PE ratio of 41.22, a PEG ratio of 5.04 and a beta of 1.34. The firm has a fifty day simple moving average of $262.75 and a 200-day simple moving average of $246.44. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts' consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday's revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS. As a group, sell-side analysts predict that Workday, Inc. will post 2.58 earnings per share for the current year.

Institutional Trading of Workday

Several hedge funds and other institutional investors have recently modified their holdings of WDAY. Jackson Square Capital LLC purchased a new stake in Workday in the 4th quarter worth about $260,000. HB Wealth Management LLC lifted its position in shares of Workday by 5.0% in the fourth quarter. HB Wealth Management LLC now owns 7,566 shares of the software maker's stock worth $1,952,000 after purchasing an additional 360 shares in the last quarter. Arkadios Wealth Advisors boosted its holdings in shares of Workday by 11.3% during the fourth quarter. Arkadios Wealth Advisors now owns 3,525 shares of the software maker's stock worth $910,000 after purchasing an additional 357 shares during the period. Merit Financial Group LLC purchased a new position in Workday during the fourth quarter valued at approximately $578,000. Finally, Procyon Advisors LLC increased its stake in Workday by 2.5% in the 4th quarter. Procyon Advisors LLC now owns 8,502 shares of the software maker's stock valued at $2,194,000 after buying an additional 211 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WDAY shares. BMO Capital Markets restated an "outperform" rating and issued a $300.00 price target on shares of Workday in a research report on Wednesday, September 18th. StockNews.com cut shares of Workday from a "buy" rating to a "hold" rating in a report on Monday. Loop Capital lowered their target price on Workday from $270.00 to $242.00 and set a "hold" rating for the company in a report on Wednesday, November 27th. Scotiabank assumed coverage on Workday in a report on Monday, November 18th. They issued a "sector outperform" rating and a $340.00 price target on the stock. Finally, Mizuho increased their target price on Workday from $280.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.

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