David A. Duffield Sells 73,971 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 73,971 shares of the firm’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $238.66, for a total transaction of $17,653,918.86. Following the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $24,581,264.02. The trade was a 41.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $237.21 on Friday. The stock has a market cap of $63.34 billion, a PE ratio of 131.06, a price-to-earnings-growth ratio of 3.53 and a beta of 1.24. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The firm has a fifty day moving average price of $247.65 and a 200-day moving average price of $251.12. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.22. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. Workday’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.74 EPS. Equities analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Workday

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Workday by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 20,598,655 shares of the software maker’s stock worth $4,810,404,000 after purchasing an additional 455,855 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock valued at $1,193,105,000 after buying an additional 1,772,223 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Workday by 47.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker’s stock valued at $879,147,000 after buying an additional 1,211,659 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Workday by 0.4% in the first quarter. The Manufacturers Life Insurance Company now owns 3,736,609 shares of the software maker’s stock worth $872,610,000 after buying an additional 14,354 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Workday by 60.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker’s stock worth $960,454,000 after buying an additional 1,406,088 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Jefferies Financial Group decreased their price objective on shares of Workday from $350.00 to $325.00 and set a “buy” rating for the company in a report on Monday, March 31st. JMP Securities reiterated a “market outperform” rating and set a $315.00 target price on shares of Workday in a research note on Friday, May 23rd. Loop Capital lowered their price target on Workday from $285.00 to $250.00 and set a “hold” rating on the stock in a report on Friday, May 23rd. Mizuho dropped their price target on Workday from $320.00 to $275.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Finally, Citigroup cut Workday from a “neutral” rating to a “mixed” rating in a research report on Friday, May 16th. Nine analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $297.68.

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.