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

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $261.75, for a total value of $14,658,000.00. Following the sale, the insider now directly owns 172,000 shares of the company’s stock, valued at approximately $45,021,000. This trade represents a 24.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Stock Down 1.5 %

Shares of NASDAQ WDAY traded down $3.97 during mid-day trading on Tuesday, hitting $258.03. 1,587,674 shares of the stock traded hands, compared to its average volume of 2,438,601. The company has a market cap of $68.64 billion, a price-to-earnings ratio of 42.79, a PEG ratio of 5.04 and a beta of 1.34. The stock has a fifty day moving average price of $259.85 and a 200-day moving average price of $243.59. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.47 EPS. Research analysts anticipate that Workday, Inc. will post 2.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WDAY. Loop Capital decreased their price objective on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Mizuho lifted their price target on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Piper Sandler reaffirmed a “neutral” rating and issued a $270.00 price objective (down previously from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Scotiabank assumed coverage on shares of Workday in a report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price on the stock. Finally, Morgan Stanley boosted their price target on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $291.36.

Institutional Investors Weigh In On Workday

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new position in shares of Workday during the third quarter valued at $26,000. SouthState Corp grew its position in Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after purchasing an additional 129 shares during the last quarter. Goodman Advisory Group LLC bought a new stake in Workday during the 2nd quarter valued at about $35,000. Meeder Asset Management Inc. lifted its stake in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares in the last quarter. Finally, Asset Dedication LLC purchased a new stake in shares of Workday during the second quarter valued at approximately $36,000. Hedge funds and other 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.