Insider Selling: Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells 56,000 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $264.89, for a total value of $14,833,840.00. Following the completion of the transaction, the insider now directly owns 843,000 shares in the company, valued at approximately $223,302,270. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $252.22 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 12 month low of $174.25 and a 12 month high of $311.28. The company has a 50 day simple moving average of $278.19 and a two-hundred day simple moving average of $262.25. The stock has a market cap of $66.59 billion, a price-to-earnings ratio of 48.97, a PEG ratio of 6.42 and a beta of 1.32.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.47 by $0.10. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.14) EPS. As a group, analysts predict that Workday, Inc. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WDAY. TheStreet raised Workday from a “c” rating to a “b-” rating in a research report on Monday, February 26th. Needham & Company LLC raised their target price on shares of Workday from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. The Goldman Sachs Group raised their target price on shares of Workday from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Piper Sandler reissued an “overweight” rating and set a $330.00 target price on shares of Workday in a research report on Monday, February 26th. Finally, BMO Capital Markets raised their target price on shares of Workday from $290.00 to $338.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $293.61.

Hedge Funds Weigh In On Workday

Institutional investors have recently made changes to their positions in the company. Vontobel Holding Ltd. increased its holdings in shares of Workday by 5.1% during the 4th quarter. Vontobel Holding Ltd. now owns 67,077 shares of the software maker’s stock valued at $18,517,000 after purchasing an additional 3,260 shares in the last quarter. Morgan Stanley increased its holdings in shares of Workday by 47.0% during the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after purchasing an additional 872,288 shares in the last quarter. QRG Capital Management Inc. purchased a new position in shares of Workday during the 3rd quarter valued at approximately $345,000. Assenagon Asset Management S.A. increased its holdings in shares of Workday by 58.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 278,569 shares of the software maker’s stock valued at $76,902,000 after purchasing an additional 103,171 shares in the last quarter. Finally, Mariner LLC increased its holdings in Workday by 21.1% in the 3rd quarter. Mariner LLC now owns 28,304 shares of the software maker’s stock worth $6,081,000 after acquiring an additional 4,927 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other 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.