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

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Friday, June 21st. The shares were sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the completion of the sale, the insider now directly owns 730,000 shares of the company's stock, valued at approximately $159,563,400. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Workday Stock Performance

Shares of NASDAQ WDAY traded down $1.32 during mid-day trading on Tuesday, hitting $217.38. The company had a trading volume of 1,567,123 shares, compared to its average volume of 2,232,788. The stock's 50-day moving average price is $234.52 and its 200-day moving average price is $264.38. The company has a market capitalization of $57.61 billion, a price-to-earnings ratio of 39.17, a P/E/G ratio of 5.53 and a beta of 1.33. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 1 year low of $202.01 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the firm earned $0.16 EPS. The business's revenue for the quarter was up 18.1% compared to the same quarter last year. On average, sell-side analysts forecast that Workday, Inc. will post 2.12 earnings per share for the current year.

Institutional Investors Weigh In On Workday

Hedge funds have recently added to or reduced their stakes in the company. Dark Forest Capital Management LP purchased a new stake in Workday in the third quarter worth approximately $764,000. LPL Financial LLC boosted its stake in shares of Workday by 11.9% in the 3rd quarter. LPL Financial LLC now owns 79,134 shares of the software maker's stock valued at $16,990,000 after purchasing an additional 8,447 shares in the last quarter. Mariner LLC grew its holdings in shares of Workday by 21.1% during the 3rd quarter. Mariner LLC now owns 28,304 shares of the software maker's stock valued at $6,081,000 after purchasing an additional 4,927 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in Workday by 13.5% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,348 shares of the software maker's stock worth $504,000 after purchasing an additional 280 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its stake in Workday by 50.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 8,321 shares of the software maker's stock worth $1,788,000 after purchasing an additional 2,795 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

Analysts Set New Price Targets

WDAY has been the subject of a number of analyst reports. Sanford C. Bernstein reduced their price objective on shares of Workday from $321.00 to $301.00 and set an "outperform" rating for the company in a report on Friday, May 24th. KeyCorp decreased their price objective on Workday from $330.00 to $275.00 and set an "overweight" rating for the company in a report on Friday, May 24th. Needham & Company LLC reissued a "buy" rating and issued a $350.00 price objective on shares of Workday in a research note on Friday, May 24th. Loop Capital cut their target price on Workday from $280.00 to $240.00 and set a "hold" rating on the stock in a research report on Friday, May 24th. Finally, The Goldman Sachs Group lowered their price target on Workday from $310.00 to $300.00 and set a "buy" rating for the company in a research report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one 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 price target of $282.11.

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.