David Duffield Sells 80,279 Shares of Workday (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 80,279 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $215.04, for a total value of $17,263,196.16. Following the completion of the sale, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $22,589,736.96. This trade represents a 43.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Stock Performance

Shares of Workday stock opened at $216.93 on Wednesday. The firm’s fifty day simple moving average is $224.37 and its 200-day simple moving average is $229.95. Workday, Inc. has a 12 month low of $205.33 and a 12 month high of $283.68. The stock has a market capitalization of $57.05 billion, a price-to-earnings ratio of 91.15, a PEG ratio of 2.47 and a beta of 1.15. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, beating the consensus estimate of $2.17 by $0.15. Workday had a return on equity of 10.50% and a net margin of 6.95%.The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the prior year, the business earned $1.89 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. As a group, equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

WDAY has been the topic of several research analyst reports. Citizens Jmp restated a “market outperform” rating and set a $315.00 target price on shares of Workday in a research report on Wednesday, November 26th. Cantor Fitzgerald reissued an “overweight” rating on shares of Workday in a report on Wednesday, November 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Wednesday, November 26th. Citigroup reduced their price target on shares of Workday from $261.00 to $247.00 and set a “neutral” rating for the company in a research report on Wednesday, November 26th. Finally, Stifel Nicolaus lowered their price target on Workday from $255.00 to $235.00 and set a “hold” rating on the stock in a report on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $282.22.

Institutional Trading of Workday

Several large investors have recently modified their holdings of the business. Finivi Inc. lifted its stake in Workday by 3.3% in the 3rd quarter. Finivi Inc. now owns 1,516 shares of the software maker’s stock valued at $365,000 after buying an additional 48 shares in the last quarter. Garde Capital Inc. raised its holdings in shares of Workday by 132.9% in the third quarter. Garde Capital Inc. now owns 1,896 shares of the software maker’s stock worth $119,000 after acquiring an additional 1,082 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Workday in the third quarter valued at $244,000. Swiss Life Asset Management Ltd lifted its position in shares of Workday by 5.7% in the third quarter. Swiss Life Asset Management Ltd now owns 36,377 shares of the software maker’s stock valued at $8,757,000 after acquiring an additional 1,968 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Workday during the third quarter valued at $9,087,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.