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

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the completion of the sale, the insider now owns 843,000 shares of the company's stock, valued at approximately $223,302,270. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Workday Trading Down 0.3 %

Workday stock traded down $0.67 during trading hours on Wednesday, reaching $257.02. 1,258,356 shares of the company's stock were exchanged, compared to its average volume of 1,787,410. The firm has a market capitalization of $67.85 billion, a PE ratio of 50.04, a PEG ratio of 6.49 and a beta of 1.32. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The firm's 50 day simple moving average is $280.85 and its 200 day simple moving average is $262.06. Workday, Inc. has a twelve month low of $174.25 and a twelve month high of $311.28.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.10. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. Workday's quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.14) EPS. Research analysts predict that Workday, Inc. will post 1.76 earnings per share for the current year.

Institutional Trading of Workday

Several large investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Workday during the fourth quarter valued at about $1,491,149,000. Wellington Management Group LLP raised its position in Workday by 37.4% in the 3rd quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker's stock valued at $1,109,348,000 after buying an additional 1,406,153 shares during the last quarter. Winslow Capital Management LLC lifted its position in shares of Workday by 76.4% during the third quarter. Winslow Capital Management LLC now owns 2,310,619 shares of the software maker's stock valued at $496,436,000 after purchasing an additional 1,000,922 shares in the last quarter. Morgan Stanley increased its stake in Workday by 47.0% in the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker's stock valued at $586,021,000 after buying an additional 872,288 shares during the last quarter. Finally, Amundi increased its stake in Workday by 233.9% in the 4th quarter. Amundi now owns 766,911 shares of the software maker's stock valued at $125,712,000 after buying an additional 537,196 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Piper Sandler reiterated an "overweight" rating and set a $330.00 price objective on shares of Workday in a research note on Monday, February 26th. JMP Securities restated a "market outperform" rating and set a $315.00 price objective on shares of Workday in a research report on Tuesday, February 27th. Barclays cut their target price on Workday from $326.00 to $316.00 and set an "overweight" rating for the company in a research note on Tuesday, February 27th. Mizuho lifted their price target on Workday from $290.00 to $325.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th. Finally, Wells Fargo & Company upped their price objective on Workday from $300.00 to $350.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $293.61.

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.