Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $17,840,007.70 in Stock

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David A. Duffield sold 70,090 shares of the company's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $26,215,826.41. The trade was a 40.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Workday Trading Down 2.0 %

Shares of Workday stock traded down $4.98 during trading on Friday, reaching $249.71. 2,011,323 shares of the stock were exchanged, compared to its average volume of 1,978,437. 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 stock's fifty day moving average is $262.56 and its 200 day moving average is $245.72. The firm has a market cap of $66.42 billion, a price-to-earnings ratio of 41.41, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY - Get Free Report) last posted its 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. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the business posted $0.47 earnings per share. Workday's revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities research analysts expect that Workday, Inc. will post 2.58 earnings per share for the current fiscal year.

Institutional Trading of Workday

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in shares of Workday by 42.8% during the second quarter. Principal Financial Group Inc. now owns 12,275 shares of the software maker's stock valued at $2,744,000 after purchasing an additional 3,679 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Workday by 373.9% during the second quarter. Acadian Asset Management LLC now owns 27,538 shares of the software maker's stock valued at $6,152,000 after purchasing an additional 21,727 shares in the last quarter. Caprock Group LLC increased its stake in shares of Workday by 39.0% during the second quarter. Caprock Group LLC now owns 2,660 shares of the software maker's stock valued at $595,000 after purchasing an additional 746 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Workday during the second quarter valued at approximately $65,000. Finally, Wedbush Securities Inc. increased its stake in shares of Workday by 18.4% during the second quarter. Wedbush Securities Inc. now owns 2,390 shares of the software maker's stock valued at $534,000 after purchasing an additional 371 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WDAY has been the topic of several research analyst reports. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $300.00 price target on shares of Workday in a report on Friday, September 13th. Mizuho upped their price target on shares of Workday from $280.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Citigroup reduced their target price on Workday from $274.00 to $270.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 25th. Loop Capital reduced their target price on Workday from $270.00 to $242.00 and set a "hold" rating on the stock in a research note on Wednesday, November 27th. Finally, Guggenheim raised Workday from a "sell" rating to a "neutral" rating in a research note on Monday. Seven research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $292.25.

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.