Insider Selling: Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells 56,000 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the 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 transaction, the insider now directly owns 60,000 shares of the company’s stock, valued at approximately $14,785,200. The trade was a 48.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Workday Stock Up 0.9 %

Workday stock opened at $250.70 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a market capitalization 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 1-year low of $199.81 and a 1-year high of $311.28. The business has a fifty day moving average price of $262.69 and a 200-day moving average price of $246.45.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The firm 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 last year, the firm earned $0.47 EPS. Equities research analysts forecast that Workday, Inc. will post 2.64 EPS for the current fiscal year.

Institutional Trading of Workday

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WDAY. William Blair Investment Management LLC lifted its position in Workday by 17.6% during the 2nd quarter. William Blair Investment Management LLC now owns 38,149 shares of the software maker’s stock worth $8,529,000 after acquiring an additional 5,707 shares during the period. Brown Brothers Harriman & Co. lifted its position in Workday by 26.8% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,791 shares of the software maker’s stock worth $1,071,000 after acquiring an additional 1,013 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Workday by 0.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 25,532 shares of the software maker’s stock worth $5,708,000 after acquiring an additional 141 shares during the period. Dimensional Fund Advisors LP lifted its position in Workday by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 226,117 shares of the software maker’s stock worth $50,552,000 after acquiring an additional 22,290 shares during the period. Finally, Mesirow Financial Investment Management Inc. lifted its position in Workday by 3.4% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock worth $324,000 after acquiring an additional 48 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on WDAY shares. Loop Capital dropped their price target on Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Wells Fargo & Company increased their price target on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Piper Sandler reissued a “neutral” rating and set a $270.00 price target (down from $285.00) on shares of Workday in a research note on Wednesday, November 27th. JMP Securities restated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research report on Thursday, September 19th. Finally, Guggenheim upgraded Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and a consensus target price of $292.25.

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.