Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 56,000 Shares

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $261.75, for a total transaction of $14,658,000.00. Following the transaction, the insider now directly owns 172,000 shares of the company’s stock, valued at approximately $45,021,000. This trade represents a 24.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Workday Stock Down 2.4 %

Workday stock opened at $251.84 on Friday. The stock has a market capitalization of $66.99 billion, a price-to-earnings ratio of 41.76, a PEG ratio of 5.04 and a beta of 1.34. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average of $260.69 and a two-hundred day moving average of $244.08. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28.

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, beating analysts’ consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Workday’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the firm posted $0.47 EPS. As a group, research analysts expect that Workday, Inc. will post 2.58 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on WDAY. Morgan Stanley upped their price objective on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Piper Sandler restated 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. Mizuho lifted their price objective on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Royal Bank of Canada upped their target price on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Finally, StockNews.com raised Workday from a “hold” rating to a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $291.36.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Workday in the third quarter valued at about $26,000. Meeder Asset Management Inc. raised its stake in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of Workday by 4,766.7% in the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after buying an additional 143 shares during the period. New Millennium Group LLC boosted its stake in shares of Workday by 177.4% in the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock valued at $36,000 after buying an additional 94 shares in the last quarter. Finally, SouthState Corp grew its holdings in Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after acquiring an additional 129 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.