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 on Friday, March 22nd. The stock was sold at an average price of $276.95, for a total transaction of $15,509,200.00. Following the transaction, the insider now directly owns 1,011,000 shares in the company, valued at $279,996,450. The transaction was disclosed in a filing 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 transactions with the SEC.

Workday Stock Down 0.3 %

Shares of WDAY opened at $272.75 on Friday. The stock has a market cap of $72.01 billion, a price-to-earnings ratio of 52.96, a P/E/G ratio of 6.93 and a beta of 1.33. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 12 month low of $174.25 and a 12 month high of $311.28. The company has a 50-day moving average price of $287.51 and a two-hundred day moving average price of $258.71.

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

Analysts Set New Price Targets

Several equities analysts have commented on the stock. StockNews.com raised shares of Workday from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 6th. Mizuho raised their price target on Workday from $290.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Barclays lowered their price target on Workday from $326.00 to $316.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 27th. Wells Fargo & Company raised their price target on Workday from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. Finally, TheStreet raised Workday from a “c” rating to a “b-” rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $293.61.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HighPoint Advisor Group LLC bought a new position in Workday during the fourth quarter worth about $826,000. Quadrature Capital Ltd bought a new position in shares of Workday in the fourth quarter valued at approximately $42,167,000. PNC Financial Services Group Inc. raised its stake in shares of Workday by 55.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 25,720 shares of the software maker’s stock valued at $7,100,000 after acquiring an additional 9,126 shares during the last quarter. Grayhawk Investment Strategies Inc. acquired a new position in shares of Workday in the 4th quarter worth approximately $721,000. Finally, Sivia Capital Partners LLC acquired a new position in shares of Workday in the 4th quarter worth approximately $208,000. Institutional investors own 89.81% of the company’s stock.

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.