Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $14,833,840.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Friday, April 12th. The shares were sold at an average price of $264.89, for a total value of $14,833,840.00. Following the completion of the sale, the insider now directly owns 843,000 shares of the company’s stock, valued at $223,302,270. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Workday Price Performance

Shares of WDAY traded down $0.06 on Wednesday, reaching $257.63. The stock had a trading volume of 820,211 shares, compared to its average volume of 1,780,577. The firm has a market capitalization of $68.01 billion, a PE ratio of 50.04, a PEG ratio of 6.49 and a beta of 1.32. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average of $280.85 and a 200 day moving average of $262.06. Workday, Inc. has a twelve month low of $174.25 and a twelve month high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The company’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.14) EPS. Sell-side analysts expect that Workday, Inc. will post 1.76 EPS for the current year.

Institutional Investors Weigh In On Workday

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vontobel Holding Ltd. grew its holdings in Workday by 5.1% during the 4th quarter. Vontobel Holding Ltd. now owns 67,077 shares of the software maker’s stock valued at $18,517,000 after buying an additional 3,260 shares during the last quarter. Morgan Stanley grew its holdings in Workday by 47.0% during the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after buying an additional 872,288 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in Workday during the 3rd quarter valued at $345,000. Assenagon Asset Management S.A. grew its holdings in Workday by 58.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 278,569 shares of the software maker’s stock valued at $76,902,000 after buying an additional 103,171 shares during the last quarter. Finally, Mariner LLC lifted its stake in shares of Workday by 21.1% during the 3rd quarter. Mariner LLC now owns 28,304 shares of the software maker’s stock worth $6,081,000 after purchasing an additional 4,927 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on WDAY. KeyCorp boosted their target price on Workday from $310.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. JMP Securities reissued a “market outperform” rating and set a $315.00 target price on shares of Workday in a research note on Tuesday, February 27th. Needham & Company LLC boosted their target price on Workday from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Barclays lowered their target price on Workday from $326.00 to $316.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. Finally, Morgan Stanley lowered their target price on Workday from $335.00 to $330.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $293.61.

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.