Insider Selling: Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $14,216,720.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.87, for a total transaction of $14,216,720.00. Following the transaction, the insider now directly owns 116,000 shares in the company, valued at $29,448,920. The trade was a 32.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Up 2.0 %

Shares of NASDAQ:WDAY opened at $254.69 on Friday. The firm has a market capitalization of $67.75 billion, a PE ratio of 42.24, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. 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, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The firm has a fifty day moving average of $262.35 and a 200 day moving average of $245.50.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 EPS. As a group, research analysts anticipate that Workday, Inc. will post 2.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in WDAY. Principal Financial Group Inc. grew its holdings in shares of Workday by 42.8% during the 2nd quarter. Principal Financial Group Inc. now owns 12,275 shares of the software maker’s stock valued at $2,744,000 after purchasing an additional 3,679 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Workday by 14.7% during the second quarter. Commonwealth Equity Services LLC now owns 22,468 shares of the software maker’s stock valued at $5,023,000 after buying an additional 2,888 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Workday by 41,800.0% in the second quarter. Larson Financial Group LLC now owns 419 shares of the software maker’s stock worth $94,000 after buying an additional 418 shares during the period. Lake Street Advisors Group LLC lifted its stake in shares of Workday by 28.9% in the 2nd quarter. Lake Street Advisors Group LLC now owns 1,013 shares of the software maker’s stock valued at $226,000 after acquiring an additional 227 shares during the last quarter. Finally, Asset Dedication LLC purchased a new stake in Workday during the 2nd quarter valued at about $36,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WDAY has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and lifted their target price for the stock from $265.00 to $300.00 in a research report on Wednesday. JMP Securities reiterated a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Thursday, September 19th. Wells Fargo & Company upped their price objective on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Scotiabank began coverage on Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price on the stock. Finally, Royal Bank of Canada increased their price target on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $292.25.

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.