Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 71,240 Shares

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David A. Duffield sold 71,240 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $244.31, for a total value of $17,404,644.40. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $25,163,197.07. This trade represents a 40.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Workday Stock Performance

NASDAQ WDAY traded down $5.82 on Thursday, hitting $236.88. 2,472,026 shares of the stock traded hands, compared to its average volume of 2,463,320. The business's fifty day moving average is $246.54 and its two-hundred day moving average is $252.26. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The firm has a market capitalization of $63.25 billion, a price-to-earnings ratio of 130.87, a PEG ratio of 3.58 and a beta of 1.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07.

Workday (NASDAQ:WDAY - Get Free Report) last posted 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 during the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the company earned $1.74 earnings per share. The business's revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Workday

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WDAY. Wells Fargo & Company decreased their price objective on Workday from $360.00 to $325.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Needham & Company LLC reissued a "buy" rating and set a $300.00 price target on shares of Workday in a report on Wednesday, May 21st. Mizuho dropped their price objective on Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Canaccord Genuity Group lifted their price target on Workday from $300.00 to $330.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Finally, Oppenheimer decreased their price target on Workday from $320.00 to $300.00 and set an "outperform" rating on the stock in a research note on Friday, May 23rd. Nine investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Workday has an average rating of "Moderate Buy" and an average price target of $293.54.

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.