Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $15,692,670.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the sale, the insider now directly owns 284,000 shares of the company’s stock, valued at $78,188,040. This represents a 16.72 % decrease in their position. The transaction was disclosed in a document filed 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 transactions with the SEC.

Workday Price Performance

NASDAQ WDAY traded up $6.21 during trading on Friday, reaching $273.04. The company’s stock had a trading volume of 46,858,779 shares, compared to its average volume of 2,417,193. The stock has a market capitalization of $72.63 billion, a PE ratio of 45.28, a P/E/G ratio of 5.04 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a fifty day moving average of $256.36 and a 200 day moving average of $240.45. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS 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 business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company earned $0.47 EPS. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. Analysts expect that Workday, Inc. will post 2.58 EPS for the current fiscal year.

Institutional Trading of Workday

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of Workday during the third quarter valued at about $26,000. Meeder Asset Management Inc. lifted 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 acquiring an additional 43 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Workday by 4,766.7% in 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 in the last quarter. New Millennium Group LLC raised its stake in shares of Workday by 177.4% in the third 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 last quarter. Finally, SouthState Corp boosted its stake in shares of Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WDAY shares. Stifel Nicolaus upped their price objective on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. DA Davidson lifted their target price on Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Friday, September 13th. Mizuho raised their target price on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Loop Capital decreased their price objective on shares of Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $291.36.

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.