Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 15,000 Shares

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David A. Duffield sold 15,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $243.17, for a total value of $3,647,550.00. Following the completion of the transaction, the insider now directly owns 45,000 shares of the company's stock, valued at $10,942,650. This trade represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Workday Stock Down 0.4 %

NASDAQ WDAY traded down $0.98 during trading on Friday, reaching $249.49. 2,831,817 shares of the company's stock were exchanged, compared to its average volume of 2,425,661. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The company's fifty day simple moving average is $256.76 and its 200-day simple moving average is $255.15. The firm has a market capitalization of $66.36 billion, a PE ratio of 41.37, a P/E/G ratio of 3.55 and a beta of 1.38.

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

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Analyst Ratings Changes

Several research analysts have recently issued reports on WDAY shares. Scotiabank decreased their price target on Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. StockNews.com lowered shares of Workday from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. The Goldman Sachs Group boosted their price target on shares of Workday from $310.00 to $345.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Canaccord Genuity Group increased their price objective on shares of Workday from $300.00 to $330.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft raised Workday from a "hold" rating to a "buy" rating and boosted their target price for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $300.36.

Hedge Funds Weigh In On Workday

Hedge funds have recently modified their holdings of the stock. Roxbury Financial LLC acquired a new stake in Workday during the fourth quarter valued at $25,000. Crews Bank & Trust acquired a new stake in shares of Workday during the 4th quarter valued at about $26,000. Avion Wealth lifted its holdings in shares of Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock valued at $27,000 after buying an additional 86 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock valued at $35,000 after buying an additional 43 shares in the last quarter. Finally, TCTC Holdings LLC acquired a new position in Workday in the fourth quarter worth approximately $35,000. 89.81% of the stock is owned by institutional investors and hedge funds.

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.