David A. Duffield Sells 70,144 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 70,144 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $250.26, for a total transaction of $17,554,237.44. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,776,029.22. This represents a 40.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Price Performance

Shares of WDAY opened at $244.55 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The stock has a market capitalization of $65.05 billion, a P/E ratio of 40.56, a P/E/G ratio of 3.55 and a beta of 1.38. The company has a 50 day moving average of $256.89 and a 200-day moving average of $254.93.

Workday (NASDAQ:WDAY) last released 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 net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. As a group, equities research analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Institutional Trading of Workday

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Kingsview Wealth Management LLC increased its position in shares of Workday by 0.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after purchasing an additional 43 shares during the last quarter. Swedbank AB increased its holdings in Workday by 2.1% during the third quarter. Swedbank AB now owns 82,847 shares of the software maker’s stock worth $20,249,000 after buying an additional 1,668 shares during the last quarter. Larson Financial Group LLC raised its position in Workday by 80.0% during the third quarter. Larson Financial Group LLC now owns 754 shares of the software maker’s stock worth $184,000 after acquiring an additional 335 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Workday by 11.9% during the third quarter. Daiwa Securities Group Inc. now owns 29,789 shares of the software maker’s stock worth $7,281,000 after acquiring an additional 3,165 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Workday by 0.6% in the third quarter. Fisher Asset Management LLC now owns 126,895 shares of the software maker’s stock valued at $31,015,000 after acquiring an additional 761 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Citigroup lowered their target price on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. KeyCorp boosted their price objective on Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Piper Sandler raised their target price on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and boosted their price target for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Finally, Morgan Stanley cut shares of Workday from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $330.00 to $275.00 in a research note on Wednesday, February 19th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and an average price target of $300.36.

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.