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

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $264.89, for a total value of $14,833,840.00. Following the transaction, the insider now owns 843,000 shares of the company’s stock, valued at $223,302,270. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Price Performance

NASDAQ:WDAY traded down $0.06 during trading hours on Wednesday, reaching $257.63. The stock had a trading volume of 820,211 shares, compared to its average volume of 1,780,577. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. Workday, Inc. has a 52 week low of $174.25 and a 52 week high of $311.28. The company has a 50 day moving average price of $280.85 and a two-hundred day moving average price of $262.06. The stock has a market capitalization of $68.01 billion, a PE ratio of 50.04, a PEG ratio of 6.49 and a beta of 1.32.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. Workday had a return on equity of 4.87% and a net margin of 19.02%. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the company posted ($0.14) EPS. The company’s revenue was up 16.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Workday

A number of institutional investors and hedge funds have recently modified their holdings of WDAY. Norges Bank purchased a new position in shares of Workday in the 4th quarter worth approximately $1,491,149,000. Wellington Management Group LLP boosted its holdings in Workday by 37.4% during the 3rd quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after acquiring an additional 1,406,153 shares during the period. Winslow Capital Management LLC boosted its holdings in Workday by 76.4% during the 3rd quarter. Winslow Capital Management LLC now owns 2,310,619 shares of the software maker’s stock valued at $496,436,000 after acquiring an additional 1,000,922 shares during the period. Morgan Stanley boosted its holdings in Workday by 47.0% during the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after acquiring an additional 872,288 shares during the period. Finally, Amundi boosted its holdings in Workday by 233.9% during the 4th quarter. Amundi now owns 766,911 shares of the software maker’s stock valued at $125,712,000 after acquiring an additional 537,196 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

WDAY has been the subject of several analyst reports. KeyCorp raised their price target on Workday from $310.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Piper Sandler restated an “overweight” rating and set a $330.00 price target on shares of Workday in a report on Monday, February 26th. UBS Group dropped their price objective on Workday from $315.00 to $300.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Citigroup increased their price objective on Workday from $270.00 to $293.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. Finally, BMO Capital Markets increased their price objective on Workday from $290.00 to $338.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $293.61.

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.