Insider Selling: Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells 70,144 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 70,144 shares of Workday stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $250.26, for a total value of $17,554,237.44. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $25,776,029.22. This represents a 40.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Workday Trading Down 2.5 %

Shares of Workday stock opened at $244.55 on Friday. The firm’s 50 day moving average is $256.89 and its 200 day moving average is $254.93. The firm has a market capitalization of $65.05 billion, a PE ratio of 40.56, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Scotiabank reduced their price objective on shares of Workday from $355.00 to $305.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and upped their price target for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. Loop Capital raised their price objective on shares of Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, February 19th. Citigroup decreased their target price on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $300.00 target price on shares of Workday in a research note on Monday. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $300.36.

Hedge Funds Weigh In On Workday

Several large investors have recently bought and sold shares of the company. Crews Bank & Trust acquired a new position in shares of Workday in the fourth quarter valued at approximately $26,000. Roxbury Financial LLC acquired a new position in Workday in the 4th quarter valued at approximately $25,000. Avion Wealth increased its position in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares during the period. TCTC Holdings LLC acquired a new stake in Workday in the fourth quarter valued at $35,000. Finally, True Wealth Design LLC raised 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 currently owned by institutional investors.

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.