Insider Selling: Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $14,112,630.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the transaction, the insider now directly owns 505,000 shares of the company’s stock, valued at approximately $125,032,950. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $248.29 on Monday. The company’s fifty day moving average price is $237.48 and its 200 day moving average price is $241.95. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a market capitalization of $65.80 billion, a P/E ratio of 44.74, a P/E/G ratio of 5.07 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the firm posted $0.40 EPS. Workday’s revenue for the quarter was up 16.5% on a year-over-year basis. As a group, sell-side analysts predict that Workday, Inc. will post 2.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WDAY. Guggenheim reissued a “sell” rating and issued a $190.00 price target on shares of Workday in a research report on Tuesday, June 25th. Stifel Nicolaus raised their price target on shares of Workday from $250.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. JMP Securities reissued a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research report on Thursday. Canaccord Genuity Group reissued a “buy” rating and issued a $300.00 price target on shares of Workday in a research report on Friday, September 13th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $300.00 price target on shares of Workday in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, Workday presently has an average rating of “Moderate Buy” and an average price target of $286.48.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. William Blair Investment Management LLC grew its position in Workday by 17.6% during the 1st quarter. William Blair Investment Management LLC now owns 32,442 shares of the software maker’s stock worth $8,849,000 after purchasing an additional 4,865 shares during the last quarter. Assetmark Inc. grew its position in Workday by 9.9% during the 4th quarter. Assetmark Inc. now owns 21,414 shares of the software maker’s stock worth $5,912,000 after purchasing an additional 1,933 shares during the last quarter. ORG Partners LLC boosted its holdings in shares of Workday by 3,717.9% in the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after acquiring an additional 3,123 shares in the last quarter. Bornite Capital Management LP purchased a new stake in shares of Workday in the fourth quarter valued at about $34,508,000. Finally, Nordea Investment Management AB boosted its holdings in shares of Workday by 3.0% in the first quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock valued at $128,851,000 after acquiring an additional 13,502 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

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.