Insider Selling: Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells 66,455 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 66,455 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $26,729,781.44. This trade represents a 39.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Stock Performance

WDAY stock traded up $5.98 during midday trading on Wednesday, hitting $259.61. The company’s stock had a trading volume of 1,859,891 shares, compared to its average volume of 2,437,385. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The stock has a market cap of $69.06 billion, a price-to-earnings ratio of 43.05, a PEG ratio of 3.55 and a beta of 1.35. The stock’s 50-day moving average price is $259.17 and its 200 day moving average price is $255.46. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. On average, equities analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Canaccord Genuity Group boosted their price objective on Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Morgan Stanley cut Workday from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $330.00 to $275.00 in a report on Wednesday, February 19th. UBS Group raised their price objective on shares of Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Mizuho boosted their target price on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Bank of America reduced their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and a consensus price target of $302.14.

Institutional Investors Weigh In On Workday

Large investors have recently modified their holdings of the stock. Roxbury Financial LLC bought a new position in Workday during the fourth quarter valued at $25,000. Capital Performance Advisors LLP purchased a new position in shares of Workday during the 3rd quarter valued at $26,000. Crews Bank & Trust bought a new position in shares of Workday during the 4th quarter worth $26,000. Avion Wealth increased its holdings in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its stake 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 acquiring an additional 43 shares during the period. 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.