David A. Duffield Sells 57,000 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the completion of the transaction, the insider now directly owns 284,000 shares of the company's stock, valued at $78,188,040. The trade was a 16.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Workday Trading Up 2.3 %

Workday stock traded up $6.21 during midday trading on Friday, reaching $273.04. 46,867,363 shares of the stock traded hands, compared to its average volume of 2,454,489. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market cap of $72.63 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. The company has a 50-day simple moving average of $257.01 and a two-hundred day simple moving average of $240.88. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted $0.47 earnings per share. The business's revenue for the quarter was up 15.8% compared to the same quarter last year. Research analysts expect that Workday, Inc. will post 2.58 earnings per share for the current fiscal year.

Institutional Trading of Workday

Large investors have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new position in Workday during the 3rd quarter worth $26,000. SouthState Corp increased its stake in shares of Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker's stock worth $34,000 after buying an additional 129 shares during the period. Crewe Advisors LLC increased its stake in shares of Workday by 56.6% during the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker's stock worth $35,000 after buying an additional 56 shares during the period. Goodman Advisory Group LLC acquired a new stake in Workday in the second quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. lifted its stake in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock worth $35,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on WDAY shares. Citigroup cut their price objective on Workday from $274.00 to $270.00 and set a "neutral" rating for the company in a research report on Wednesday, September 25th. Mizuho lifted their target price on shares of Workday from $280.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Workday from $265.00 to $275.00 and gave the stock a "hold" rating in a research report on Friday, August 23rd. BMO Capital Markets reiterated an "outperform" rating and issued a $300.00 price objective on shares of Workday in a report on Wednesday, September 18th. Finally, Royal Bank of Canada increased their target price on Workday from $300.00 to $320.00 and gave the company an "outperform" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $291.36.

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.