Insider Selling: Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $14,833,840.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the transaction, the insider now owns 843,000 shares in the company, valued at $223,302,270. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major 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 $252.22 on Friday. Workday, Inc. has a 1-year low of $174.25 and a 1-year high of $311.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. The business has a fifty day moving average price of $278.19 and a 200-day moving average price of $262.25. The company has a market capitalization of $66.59 billion, a PE ratio of 48.97, a PEG ratio of 6.42 and a beta of 1.32.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.10. Workday had a return on equity of 4.87% and a net margin of 19.02%. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the company earned ($0.14) earnings per share. The company’s revenue was up 16.8% on a year-over-year basis. As a group, equities analysts expect that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Workday

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Workday by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock worth $3,988,549,000 after buying an additional 437,215 shares in the last quarter. Norges Bank bought a new stake in Workday in the 4th quarter worth about $1,491,149,000. Wellington Management Group LLP increased its holdings in Workday by 37.4% in the 3rd quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock worth $1,109,348,000 after buying an additional 1,406,153 shares in the last quarter. State Street Corp increased its holdings in Workday by 3.0% in the 1st quarter. State Street Corp now owns 4,270,722 shares of the software maker’s stock worth $882,064,000 after buying an additional 126,266 shares in the last quarter. Finally, Polen Capital Management LLC increased its holdings in Workday by 2.0% in the 3rd quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker’s stock worth $848,726,000 after buying an additional 78,352 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WDAY. JPMorgan Chase & Co. increased their price objective on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. DA Davidson reissued a “neutral” rating and set a $300.00 price objective on shares of Workday in a research note on Tuesday, February 27th. KeyCorp increased their price objective on Workday from $310.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Barclays dropped their price objective on Workday from $326.00 to $316.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. Finally, UBS Group dropped their price target on Workday from $315.00 to $300.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $293.61.

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.