Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $17,554,237.44 in Stock

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David A. Duffield sold 70,144 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $250.26, for a total value of $17,554,237.44. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $25,776,029.22. The trade was a 40.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Workday Price Performance

NASDAQ WDAY traded down $6.06 during trading hours on Friday, hitting $238.49. The company had a trading volume of 1,888,639 shares, compared to its average volume of 2,522,044. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a market capitalization of $63.44 billion, a price-to-earnings ratio of 39.55, a PEG ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The firm has a 50 day simple moving average of $256.67 and a 200 day simple moving average of $254.82.

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

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Wall Street Analysts Forecast Growth

WDAY has been the subject of a number of recent research reports. Redburn Atlantic began coverage on shares of Workday in a research note on Wednesday, February 19th. They set a "neutral" rating for the company. Royal Bank of Canada boosted their target price on shares of Workday from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Morgan Stanley lowered shares of Workday from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $330.00 to $275.00 in a report on Wednesday, February 19th. Canaccord Genuity Group lifted their price target on Workday from $300.00 to $330.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Finally, StockNews.com lowered Workday from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $300.36.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WDAY. Simplicity Wealth LLC grew its position in Workday by 3.0% during the fourth quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker's stock worth $330,000 after buying an additional 37 shares in the last quarter. Marcum Wealth LLC boosted its position in shares of Workday by 4.4% during the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker's stock valued at $249,000 after acquiring an additional 41 shares during the last quarter. Custom Index Systems LLC grew its holdings in shares of Workday by 3.0% during the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker's stock worth $364,000 after purchasing an additional 41 shares in the last quarter. AllSquare Wealth Management LLC increased its position in shares of Workday by 19.4% in the fourth quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker's stock worth $65,000 after purchasing an additional 41 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in Workday by 0.9% in the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker's stock valued at $1,243,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

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.