David A. Duffield Sells 15,000 Shares of Workday, Inc. (NASDAQ:WDAY) Stock

Workday, Inc. (NASDAQ:WDAY - Get Free Report) major shareholder David A. Duffield sold 15,000 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $245.33, for a total value of $3,679,950.00. Following the completion of the sale, the insider now owns 30,000 shares of the company's stock, valued at $7,359,900. This trade represents a 33.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Workday Stock Performance

Shares of NASDAQ WDAY traded down $5.82 during trading hours on Thursday, reaching $236.88. 2,472,026 shares of the stock were exchanged, compared to its average volume of 2,463,320. The firm has a market capitalization of $63.25 billion, a price-to-earnings ratio of 130.87, a P/E/G 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, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The stock's fifty day simple moving average is $246.54 and its 200 day simple moving average is $252.26.

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

Hedge Funds Weigh In On Workday

A number of large investors have recently made changes to their positions in the company. Cornerstone Planning Group LLC increased its stake in Workday by 76.1% during 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 period. Dagco Inc. bought a new position in Workday during the 1st quarter worth $31,000. Farmers & Merchants Investments Inc. bought a new position in Workday during the 1st quarter worth $32,000. TCTC Holdings LLC bought a new position in Workday during the 4th quarter worth $35,000. Finally, Financial Management Professionals Inc. increased its stake in Workday by 54.0% during the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock worth $36,000 after acquiring an additional 54 shares during the period. Institutional investors own 89.81% of the company's stock.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price objective on Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a research report 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 report on Friday, May 23rd. Westpark Capital upped 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 reduced their price objective on Workday from $350.00 to $325.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, BMO Capital Markets upped their price objective on Workday from $300.00 to $314.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus 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.