Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 66,455 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 66,455 shares of Workday stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $259.52, for a total value of $17,246,401.60. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,729,781.44. This trade represents a 39.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Performance

Shares of WDAY opened at $253.76 on Friday. The firm has a market cap of $67.50 billion, a price-to-earnings ratio of 42.08, a PEG ratio of 3.55 and a beta of 1.35. 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 business’s 50 day moving average is $258.67 and its two-hundred day moving average is $255.48. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results 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). The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and boosted their target price for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. UBS Group upped their price objective on Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Daiwa America raised Workday to a “strong-buy” rating in a research report on Tuesday. JMP Securities restated a “market outperform” rating and set a $315.00 price target on shares of Workday in a research note on Thursday, February 6th. Finally, Royal Bank of Canada raised their price objective on Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $302.14.

Hedge Funds Weigh In On Workday

Several large investors have recently modified their holdings of WDAY. Castle Rock Wealth Management LLC bought a new position in Workday during the 4th quarter worth approximately $1,089,000. Park Square Financial Group LLC acquired a new stake in shares of Workday during the 4th quarter valued at approximately $117,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Workday during the fourth quarter worth $117,259,000. Azzad Asset Management Inc. ADV boosted its holdings in Workday by 0.8% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 9,187 shares of the software maker’s stock worth $2,371,000 after purchasing an additional 71 shares during the period. Finally, Jefferies Financial Group Inc. increased its stake in Workday by 8.1% during the fourth quarter. Jefferies Financial Group Inc. now owns 10,326 shares of the software maker’s stock valued at $2,664,000 after purchasing an additional 770 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

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.