David A. Duffield Sells 70,090 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 70,090 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total value of $17,840,007.70. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $26,215,826.41. This trade represents a 40.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Workday Trading Down 2.0 %

NASDAQ WDAY opened at $249.71 on Friday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $262.56 and a 200 day simple moving average of $245.72. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The firm has a market capitalization of $66.42 billion, a P/E ratio of 41.41, a PEG ratio of 5.04 and a beta of 1.34.

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

Hedge Funds Weigh In On Workday

Hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Workday by 79.1% in the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after acquiring an additional 1,016,394 shares in the last quarter. Two Sigma Advisers LP grew its stake in Workday by 1,094.2% in the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after purchasing an additional 562,400 shares during the period. Janus Henderson Group PLC increased its position in shares of Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after purchasing an additional 480,459 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Workday during the 3rd quarter worth $78,003,000. Finally, D1 Capital Partners L.P. boosted its holdings in shares of Workday by 152.1% in the 2nd quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock worth $115,804,000 after buying an additional 312,500 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on WDAY shares. StockNews.com upgraded Workday from a “hold” rating to a “buy” rating in a report on Monday, January 6th. Bank of America lowered their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Guggenheim upgraded Workday from a “sell” rating to a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company boosted 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. Finally, Loop Capital decreased their target price on Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $292.25.

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.