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

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David A. Duffield sold 71,672 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $25,602,994.26. This represents a 41.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Workday Stock Down 0.4 %

Shares of NASDAQ:WDAY traded down $0.98 during midday trading on Friday, reaching $249.49. The company had a trading volume of 2,831,817 shares, compared to its average volume of 2,425,661. The stock has a market capitalization of $66.36 billion, a P/E ratio of 41.37, a PEG ratio of 3.55 and a beta of 1.38. The stock's fifty day moving average price is $256.76 and its 200-day moving average price is $255.15. 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 one year low of $199.81 and a one year high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last issued its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Equities research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Remove Ads

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in WDAY. Vanguard Group Inc. boosted its holdings in Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the period. T. Rowe Price Investment Management Inc. acquired a new position in shares of Workday in the 4th quarter valued at about $658,735,000. Norges Bank bought a new stake in shares of Workday during the 4th quarter valued at about $645,710,000. Parnassus Investments LLC raised its stake in Workday by 562.2% during the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock worth $631,589,000 after acquiring an additional 2,078,097 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Workday by 61.9% in the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock worth $1,193,105,000 after acquiring an additional 1,772,223 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on WDAY shares. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a "hold" rating to a "buy" rating and raised their target price for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Wells Fargo & Company upped their target price on Workday from $330.00 to $360.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Daiwa America upgraded Workday to a "strong-buy" rating in a research report on Tuesday, March 4th. Morgan Stanley cut Workday from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. Finally, Scotiabank cut their price objective on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $300.36.

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.