David A. Duffield Sells 81,275 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 81,275 shares of the company’s stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total value of $17,448,117.00. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $22,111,395.96. This trade represents a 44.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Workday Stock Up 0.8 %

Shares of NASDAQ:WDAY opened at $226.51 on Friday. The stock has a market cap of $60.25 billion, a price-to-earnings ratio of 37.56, a PEG ratio of 3.55 and a beta of 1.32. The business’s 50 day moving average is $248.47 and its 200 day moving average is $252.81. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. 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 (NASDAQ:WDAY) last posted its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. On average, sell-side analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JMP Securities reiterated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a report on Thursday, February 6th. Redburn Atlantic began coverage on shares of Workday in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Piper Sandler lifted their target price on shares of Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Guggenheim reaffirmed a “neutral” rating on shares of Workday in a research report on Wednesday, February 26th. Finally, Daiwa America raised Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average target price of $300.18.

Institutional Investors Weigh In On Workday

Several institutional investors and hedge funds have recently added to or reduced their stakes in WDAY. Vanguard Group Inc. grew its holdings in shares of Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after acquiring an additional 4,517,272 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in Workday in the fourth quarter worth $658,735,000. Norges Bank bought a new position in Workday in the 4th quarter valued at $645,710,000. Parnassus Investments LLC increased its position in shares of Workday by 562.2% during the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after purchasing an additional 2,078,097 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock worth $1,193,105,000 after purchasing an additional 1,772,223 shares during the period. Hedge funds and other 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.