Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $12,774,720.00 in Stock

Workday, Inc. (NASDAQ:WDAYGet Free Report) major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $228.12, for a total value of $12,774,720.00. Following the completion of the sale, the insider now owns 618,000 shares in the company, valued at $140,978,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Workday Stock Down 1.5 %

WDAY traded down $3.45 on Tuesday, reaching $223.09. The company’s stock had a trading volume of 1,907,457 shares, compared to its average volume of 2,200,118. The stock has a market cap of $59.12 billion, a price-to-earnings ratio of 40.12, a price-to-earnings-growth ratio of 5.77 and a beta of 1.35. Workday, Inc. has a 1 year low of $202.01 and a 1 year high of $311.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00. The business’s 50 day moving average is $229.26 and its 200 day moving average is $261.26.

Workday (NASDAQ:WDAYGet Free Report) last issued its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. Workday’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.16 earnings per share. As a group, research analysts forecast that Workday, Inc. will post 2.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Beacon Capital Management LLC lifted its holdings in Workday by 333.3% during the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after buying an additional 70 shares during the last quarter. Crewe Advisors LLC bought a new position in Workday during the 1st quarter worth approximately $27,000. Exchange Traded Concepts LLC lifted its holdings in Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after buying an additional 105 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after buying an additional 49 shares during the last quarter. Finally, CVA Family Office LLC bought a new position in Workday during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on WDAY shares. JMP Securities reiterated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a research note on Friday, May 24th. Citigroup dropped their target price on Workday from $293.00 to $255.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. DA Davidson dropped their target price on Workday from $300.00 to $255.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Mizuho dropped their target price on Workday from $325.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Finally, TD Cowen dropped their target price on Workday from $330.00 to $290.00 and set a “buy” rating for the company in a research note on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $282.11.

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Workday Company Profile

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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.

Further Reading

Insider Buying and Selling by Quarter for Workday (NASDAQ:WDAY)

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