Insider Selling: Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells 56,000 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the sale, the insider now directly owns 60,000 shares of the company’s stock, valued at $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Price Performance

Shares of NASDAQ WDAY opened at $248.57 on Thursday. The stock’s 50-day simple moving average is $262.75 and its 200-day simple moving average is $246.44. The firm has a market capitalization of $66.12 billion, a PE ratio of 41.22, a price-to-earnings-growth ratio of 4.51 and a beta of 1.34. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two 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 released its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the company earned $0.47 earnings per share. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities research analysts forecast that Workday, Inc. will post 2.64 EPS for the current fiscal year.

Institutional Trading of Workday

Large investors have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Workday in the third quarter valued at approximately $26,000. Goodman Advisory Group LLC purchased a new stake in Workday in the 2nd quarter valued at $35,000. Meeder Asset Management Inc. raised its position in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares during the last quarter. New Millennium Group LLC boosted its stake in Workday by 177.4% during the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after purchasing an additional 94 shares during the period. Finally, True Wealth Design LLC grew its position in Workday by 4,766.7% during the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after purchasing an additional 143 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on WDAY shares. The Goldman Sachs Group increased their price target on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. BMO Capital Markets reiterated an “outperform” rating and set a $300.00 price target on shares of Workday in a report on Wednesday, September 18th. Barclays reduced their price objective on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. 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. Finally, Morgan Stanley boosted their price target on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.