Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $17,383,945.11 in Stock

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David A. Duffield sold 72,551 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $239.61, for a total value of $17,383,945.11. Following the completion of the transaction, the insider directly owned 102,997 shares of the company's stock, valued at $24,679,111.17. The trade was a 41.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Workday Stock Down 2.0%

Shares of WDAY traded down $4.64 during mid-day trading on Friday, reaching $224.66. The company had a trading volume of 933,675 shares, compared to its average volume of 2,476,430. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a 50-day moving average price of $248.80 and a 200 day moving average price of $248.82. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The company has a market capitalization of $59.98 billion, a price-to-earnings ratio of 124.39, a price-to-earnings-growth ratio of 3.63 and a beta of 1.21.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.22. Workday had a return on equity of 8.00% and a net margin of 5.60%. The firm had revenue of $2.24 billion for the quarter, compared to analysts' expectations of $2.22 billion. During the same period in the previous year, the firm posted $1.74 EPS. The business's revenue for the quarter was up 12.6% compared to the same quarter last year. On average, sell-side analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analyst Weigh In

WDAY has been the subject of a number of analyst reports. Citigroup lowered Workday from a "neutral" rating to a "mixed" rating in a report on Friday, May 16th. Westpark Capital increased their price objective on Workday from $315.00 to $328.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Jefferies Financial Group dropped their price target on Workday from $350.00 to $325.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Mizuho dropped their price target on Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Finally, Oppenheimer dropped their price target on Workday from $320.00 to $300.00 and set an "outperform" rating for the company in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Workday presently has an average rating of "Moderate Buy" and a consensus price target of $296.88.

Hedge Funds Weigh In On Workday

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WDAY. Cornerstone Planning Group LLC lifted its position in Workday by 76.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock valued at $28,000 after acquiring an additional 54 shares in the last quarter. Dagco Inc. bought a new position in Workday in the 1st quarter valued at approximately $31,000. Farmers & Merchants Investments Inc. bought a new position in Workday in the 1st quarter valued at approximately $32,000. TCTC Holdings LLC bought a new position in Workday in the 4th quarter valued at approximately $35,000. Finally, Financial Management Professionals Inc. lifted its position in Workday by 54.0% in the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock valued at $36,000 after acquiring an additional 54 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

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.