Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $17,653,918.86 in Stock

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David A. Duffield sold 73,971 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $238.66, for a total transaction of $17,653,918.86. Following the transaction, the insider now directly owns 102,997 shares of the company's stock, valued at approximately $24,581,264.02. This trade represents a 41.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Workday Stock Performance

Shares of NASDAQ WDAY traded up $3.75 during midday trading on Thursday, reaching $237.21. 2,072,059 shares of the company traded hands, compared to its average volume of 2,458,194. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07. The company has a market cap of $63.34 billion, a price-to-earnings ratio of 131.06, a PEG ratio of 3.61 and a beta of 1.24. The stock has a 50-day moving average price of $247.33 and a 200 day moving average price of $251.41.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.22. The firm had revenue of $2.24 billion for 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 revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.74 EPS. Sell-side analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Citigroup downgraded shares of Workday from a "neutral" rating to a "mixed" rating in a research note on Friday, May 16th. Daiwa America raised shares of Workday to a "strong-buy" rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lowered their price objective on Workday from $310.00 to $295.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Scotiabank dropped their price objective on Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Finally, UBS Group lifted their target price on Workday from $255.00 to $285.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Nine 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 MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $297.68.

Institutional Investors Weigh In On Workday

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock valued at $5,197,447,000 after purchasing an additional 4,517,272 shares during the period. T. Rowe Price Investment Management Inc. bought a new position in Workday in the 4th quarter worth $658,735,000. Norges Bank acquired a new position in Workday during the 4th quarter worth $645,710,000. Parnassus Investments LLC boosted its holdings in Workday by 562.2% during the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock valued at $631,589,000 after acquiring an additional 2,078,097 shares during the period. Finally, Nuveen LLC bought a new stake in Workday during the first quarter valued at about $456,341,000. Institutional investors own 89.81% of the company's stock.

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.

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