Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $14,658,000.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $261.75, for a total transaction of $14,658,000.00. Following the completion of the sale, the insider now directly owns 172,000 shares in the company, valued at $45,021,000. This trade represents a 24.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Workday Stock Down 2.4 %

Shares of NASDAQ WDAY opened at $251.84 on Friday. The stock has a market cap of $66.99 billion, a PE ratio of 41.76, a P/E/G ratio of 5.04 and a beta of 1.34. 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, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a 50-day moving average of $260.69 and a 200 day moving average of $244.08.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the business earned $0.47 earnings per share. The business’s revenue was up 15.8% compared to the same quarter last year. As a group, sell-side analysts predict that Workday, Inc. will post 2.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Workday in a report on Wednesday, September 18th. The Goldman Sachs Group raised their target price on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Loop Capital reduced their price target on Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. Oppenheimer restated an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research report on Tuesday, December 3rd. Finally, Scotiabank assumed coverage on shares of Workday in a report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and a consensus target price of $291.36.

Institutional Trading of Workday

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in Workday during the third quarter worth about $26,000. Meeder Asset Management Inc. increased its holdings in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares during the last quarter. True Wealth Design LLC raised its position in shares of Workday by 4,766.7% during the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after buying an additional 143 shares during the period. New Millennium Group LLC raised its position in shares of Workday by 177.4% during the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock valued at $36,000 after buying an additional 94 shares during the period. Finally, SouthState Corp lifted its holdings in Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after acquiring an additional 129 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

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.