Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 70,090 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 70,090 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total value of $17,840,007.70. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,215,826.41. This trade represents a 40.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Trading Down 2.0 %

Workday stock opened at $249.71 on Friday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The firm’s 50-day moving average is $262.56 and its 200-day moving average is $245.91. 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 cap of $66.42 billion, a P/E ratio of 41.41, a PEG ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY) last issued its 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 analysts’ expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Workday’s revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the company posted $0.47 earnings per share. On average, equities analysts expect that Workday, Inc. will post 2.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on WDAY shares. Mizuho increased their target price on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Barclays dropped their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Monday, November 25th. StockNews.com upgraded Workday from a “hold” rating to a “buy” rating in a report on Monday, January 6th. Finally, Citigroup cut their target price on Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Seven investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.25.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Workday by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after acquiring an additional 1,016,394 shares during the period. Two Sigma Advisers LP lifted its position in Workday by 1,094.2% in the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after purchasing an additional 562,400 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after purchasing an additional 480,459 shares during the period. Zurich Insurance Group Ltd FI bought a new position in Workday in the 3rd quarter worth about $78,003,000. Finally, D1 Capital Partners L.P. increased its stake in shares of Workday by 152.1% in the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock valued at $115,804,000 after purchasing an additional 312,500 shares during the period. 89.81% of the stock is currently owned by institutional investors.

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.