Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $17,246,401.60 in Stock

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David A. Duffield sold 66,455 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the sale, the insider now directly owns 102,997 shares of the company's stock, valued at $26,729,781.44. This represents a 39.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Workday Stock Down 0.5 %

Shares of WDAY traded down $1.38 during mid-day trading on Friday, hitting $252.38. 2,035,879 shares of the company traded hands, compared to its average volume of 2,421,663. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $67.13 billion, a PE ratio of 41.85, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The business has a 50 day moving average of $258.39 and a 200 day moving average of $255.78.

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

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Hedge Funds Weigh In On Workday

Several hedge funds and other institutional investors have recently bought and sold shares of WDAY. Roxbury Financial LLC acquired a new position in Workday in the 4th quarter worth approximately $25,000. Capital Performance Advisors LLP acquired a new position in Workday in the 3rd quarter worth approximately $26,000. Crews Bank & Trust acquired a new position in Workday in the 4th quarter worth approximately $26,000. Avion Wealth increased its holdings in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after buying an additional 86 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock worth $35,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WDAY. Guggenheim reissued a "neutral" rating on shares of Workday in a research note on Wednesday, February 26th. Redburn Atlantic assumed coverage on shares of Workday in a research note on Wednesday, February 19th. They issued a "neutral" rating for the company. Mizuho upped their price objective on shares of Workday from $280.00 to $320.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $300.00 price objective on shares of Workday in a research note on Wednesday, February 26th. Finally, Loop Capital upped their price objective on shares of Workday from $242.00 to $260.00 and gave the stock a "hold" rating in a research note on Wednesday, February 19th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Workday presently has a consensus rating of "Moderate Buy" and a consensus price target of $302.14.

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.