Insider Selling: Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells 56,000 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $265.70, for a total value of $14,879,200.00. Following the completion of the sale, the insider now directly owns 228,000 shares of the company’s stock, valued at $60,579,600. This trade represents a 19.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Workday Trading Up 0.1 %

NASDAQ WDAY traded up $0.34 on Thursday, reaching $269.38. The company had a trading volume of 1,243,757 shares, compared to its average volume of 2,448,117. The firm has a market cap of $71.66 billion, a price-to-earnings ratio of 44.67, a P/E/G ratio of 5.04 and a beta of 1.34. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The business has a 50 day moving average of $258.52 and a two-hundred day moving average of $242.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 EPS. Analysts forecast that Workday, Inc. will post 2.58 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its position in shares of Workday by 45.0% during the 3rd quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker’s stock valued at $4,349,000 after acquiring an additional 5,519 shares during the period. Oddo BHF Asset Management Sas acquired a new position in shares of Workday during the third quarter valued at about $15,663,000. Garde Capital Inc. boosted its position in shares of Workday by 60.6% during the 3rd quarter. Garde Capital Inc. now owns 3,120 shares of the software maker’s stock worth $763,000 after purchasing an additional 1,177 shares in the last quarter. Peapack Gladstone Financial Corp grew its stake in shares of Workday by 21.3% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 2,280 shares of the software maker’s stock valued at $557,000 after buying an additional 401 shares during the period. Finally, Synovus Financial Corp increased its position in Workday by 5.7% in the 3rd quarter. Synovus Financial Corp now owns 19,590 shares of the software maker’s stock valued at $4,788,000 after buying an additional 1,051 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on WDAY shares. Piper Sandler restated a “neutral” rating and issued a $270.00 price objective (down from $285.00) on shares of Workday in a report on Wednesday, November 27th. Mizuho boosted their price objective on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Scotiabank started coverage on shares of Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price on the stock. The Goldman Sachs Group boosted their price target on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price objective on shares of Workday in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $291.36.

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.