Workday (NASDAQ:WDAY) Major Shareholder David Duffield Sells 81,434 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David Duffield sold 81,434 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $215.98, for a total value of $17,588,115.32. Following the completion of the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $22,688,483.02. The trade was a 43.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Workday Price Performance

Shares of NASDAQ WDAY opened at $218.08 on Friday. The stock has a market cap of $57.36 billion, a P/E ratio of 91.63, a P/E/G ratio of 2.45 and a beta of 1.15. The firm’s 50-day simple moving average is $227.36 and its 200 day simple moving average is $232.05. Workday, Inc. has a fifty-two week low of $205.33 and a fifty-two week high of $283.68. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, beating the consensus estimate of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter last year, the company earned $1.89 EPS. Workday’s quarterly revenue was up 12.6% on a year-over-year basis. Equities analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Hedge Funds Weigh In On Workday

Institutional investors have recently bought and sold shares of the stock. Rakuten Securities Inc. acquired a new position in shares of Workday in the second quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Workday during the third quarter valued at approximately $26,000. JPL Wealth Management LLC purchased a new stake in shares of Workday in the 3rd quarter valued at approximately $30,000. Berbice Capital Management LLC boosted its stake in Workday by 136.4% in the 2nd quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock worth $31,000 after purchasing an additional 75 shares during the period. Finally, Golden State Wealth Management LLC grew its position in Workday by 2,216.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock worth $33,000 after purchasing an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on WDAY. Loop Capital set a $280.00 target price on Workday in a report on Wednesday, December 10th. DA Davidson dropped their price objective on Workday from $260.00 to $250.00 and set a “hold” rating on the stock in a research note on Wednesday, November 26th. Canaccord Genuity Group cut their price objective on Workday from $330.00 to $275.00 and set a “buy” rating for the company in a report on Friday, August 22nd. Macquarie reaffirmed a “buy” rating on shares of Workday in a report on Wednesday, November 26th. Finally, Stifel Nicolaus cut their price target on shares of Workday from $255.00 to $235.00 and set a “hold” rating for the company in a report on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $282.22.

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.