David A. Duffield Sells 56,000 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the sale, the insider now owns 60,000 shares in the company, valued at $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Performance

Shares of WDAY opened at $250.70 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. The business has a 50-day simple moving average of $262.69 and a two-hundred day simple moving average of $246.45. The stock has a market cap of $66.69 billion, a price-to-earnings ratio of 41.58, a PEG ratio of 4.51 and a beta of 1.34. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.47 earnings per share. On average, analysts expect that Workday, Inc. will post 2.64 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Loop Capital dropped their target price on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and boosted their target price for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Morgan Stanley boosted their target price on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. StockNews.com downgraded Workday from a “buy” rating to a “hold” rating in a report on Monday. Finally, Scotiabank started coverage on Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $292.25.

Hedge Funds Weigh In On Workday

Hedge funds have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in shares of Workday in the third quarter worth about $26,000. Goodman Advisory Group LLC bought a new position in shares of Workday in the second quarter worth about $35,000. Meeder Asset Management Inc. boosted its stake in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares during the period. New Millennium Group LLC boosted its stake in shares of Workday by 177.4% in the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after acquiring an additional 94 shares during the period. Finally, True Wealth Design LLC boosted its stake in shares of Workday by 4,766.7% in the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after acquiring an additional 143 shares during the period. Institutional investors own 89.81% of the company’s stock.

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.