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 stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $239.61, for a total transaction of $17,383,945.11. Following the sale, the insider owned 102,997 shares of the company's stock, valued at $24,679,111.17. This trade represents a 41.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Workday Stock Down 4.5%

Shares of WDAY stock traded down $10.87 during trading on Thursday, reaching $229.30. The company's stock had a trading volume of 4,155,441 shares, compared to its average volume of 2,479,473. The business has a fifty day moving average price of $249.15 and a 200-day moving average price of $249.07. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33. The company has a market cap of $61.22 billion, a price-to-earnings ratio of 126.69, a price-to-earnings-growth ratio of 3.63 and a beta of 1.21. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00.

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

Institutional Trading of Workday

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Workday by 2.3% during the first quarter. Vanguard Group Inc. now owns 20,598,655 shares of the software maker's stock worth $4,810,404,000 after acquiring an additional 455,855 shares in the last quarter. Geode Capital Management LLC raised its position in Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock worth $1,193,105,000 after acquiring an additional 1,772,223 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Workday by 47.5% in 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 purchasing an additional 1,211,659 shares during the last quarter. The Manufacturers Life Insurance Company increased 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 valued at $872,610,000 after purchasing an additional 14,354 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased 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 valued at $960,454,000 after purchasing an additional 1,406,088 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WDAY has been the subject of several research reports. Westpark Capital raised their price objective on shares of Workday from $315.00 to $328.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Morgan Stanley set a $255.00 price objective on shares of Workday and gave the company an "equal weight" rating in a research report on Friday, May 23rd. Needham & Company LLC restated a "buy" rating and issued a $300.00 price objective on shares of Workday in a research report on Wednesday, May 21st. Jefferies Financial Group lowered their price objective on shares of Workday from $350.00 to $325.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, Wall Street Zen cut shares of Workday from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $296.88.

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.

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