Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 72,551 Shares

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David A. Duffield sold 72,551 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were 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 owned 102,997 shares of the company's stock, valued at $24,679,111.17. This represents a 41.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Workday Price Performance

NASDAQ:WDAY traded down $5.93 during trading hours on Friday, hitting $223.37. The company's stock had a trading volume of 2,494,795 shares, compared to its average volume of 2,485,606. The stock has a fifty day simple moving average of $248.29 and a 200-day simple moving average of $248.37. The company has a market capitalization of $59.64 billion, a P/E ratio of 123.41, a PEG ratio of 3.37 and a beta of 1.21. 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, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, beating the consensus estimate of $2.01 by $0.22. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. The business's quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the company earned $1.74 earnings per share. On average, analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WDAY. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $340.00 price target on shares of Workday in a research report on Friday, May 23rd. Stifel Nicolaus dropped their price objective on Workday from $310.00 to $275.00 and set a "hold" rating on the stock in a research note on Friday, May 23rd. JMP Securities reiterated a "market outperform" rating and set a $315.00 price objective on shares of Workday in a research note on Friday, May 23rd. Morgan Stanley set a $255.00 price objective on Workday and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. Finally, Oppenheimer dropped their price objective on Workday from $320.00 to $300.00 and set an "outperform" rating on the stock in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $296.88.

Hedge Funds Weigh In On Workday

A number of hedge funds have recently made changes to their positions in the stock. TTP Investments Inc. raised its position in shares of Workday by 4.5% during the second quarter. TTP Investments Inc. now owns 1,333 shares of the software maker's stock worth $320,000 after acquiring an additional 58 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Workday by 16.7% in the second quarter. Farther Finance Advisors LLC now owns 4,079 shares of the software maker's stock worth $979,000 after purchasing an additional 585 shares in the last quarter. Diversified Trust Co increased its holdings in Workday by 35.0% in the second quarter. Diversified Trust Co now owns 6,557 shares of the software maker's stock worth $1,574,000 after purchasing an additional 1,699 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Workday by 225.6% in the second quarter. Assenagon Asset Management S.A. now owns 534,903 shares of the software maker's stock worth $128,377,000 after purchasing an additional 370,596 shares in the last quarter. Finally, Perpetual Ltd bought a new stake in Workday in the second quarter worth approximately $966,000. 89.81% of the stock is currently owned by institutional investors.

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.