Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 71,672 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 71,672 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,602,994.26. This trade represents a 41.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 $251.91 on Wednesday. The company’s 50-day moving average is $256.89 and its 200 day moving average is $255.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company has a market capitalization of $67.01 billion, a P/E ratio of 41.78, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00.

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

Institutional Investors Weigh In On Workday

Several hedge funds and other institutional investors have recently modified their holdings of WDAY. Bristlecone Advisors LLC grew its holdings in shares of Workday by 49.6% during the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after purchasing an additional 968 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Workday by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after purchasing an additional 1,978 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after purchasing an additional 119,769 shares in the last quarter. Burns Matteson Capital Management LLC purchased a new position in shares of Workday during the fourth quarter worth about $369,000. Finally, Worldquant Millennium Advisors LLC grew its holdings in shares of Workday by 387.0% during the third quarter. Worldquant Millennium Advisors LLC now owns 355,655 shares of the software maker’s stock worth $86,926,000 after purchasing an additional 282,632 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and raised their price objective for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Redburn Atlantic assumed coverage on shares of Workday in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Stifel Nicolaus raised their price objective on shares of Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a report on Wednesday, February 26th. Citigroup reduced their price objective on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, The Goldman Sachs Group raised their price objective on shares of Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and a consensus price target of $300.36.

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.