Workday, Inc. (NASDAQ:WDAY) Major Shareholder David A. Duffield Sells 78,279 Shares of Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 78,279 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $223.89, for a total value of $17,525,885.31. Following the sale, the insider now owns 102,997 shares in the company, valued at approximately $23,059,998.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Workday Stock Performance

Shares of Workday stock opened at $225.55 on Thursday. The company’s 50 day moving average price is $231.32 and its two-hundred day moving average price is $262.55. The firm has a market capitalization of $59.77 billion, a P/E ratio of 40.64, a P/E/G ratio of 5.71 and a beta of 1.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00. Workday, Inc. has a fifty-two week low of $202.01 and a fifty-two week high of $311.28.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, beating the consensus estimate of $0.31 by $0.20. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share. On average, equities analysts forecast that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WDAY shares. Piper Sandler lowered their price target on Workday from $330.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. The Goldman Sachs Group lowered their price objective on shares of Workday from $310.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Barclays cut their target price on shares of Workday from $316.00 to $286.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Wells Fargo & Company cut their price objective on Workday from $325.00 to $275.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Finally, DA Davidson dropped their price target on Workday from $300.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $282.11.

Institutional Investors Weigh In On Workday

A number of institutional investors have recently added to or reduced their stakes in the business. Beacon Capital Management LLC grew its stake in shares of Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after purchasing an additional 70 shares during the last quarter. VisionPoint Advisory Group LLC increased its stake in shares of Workday by 215.4% in the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after buying an additional 84 shares during the period. Crewe Advisors LLC acquired a new stake in shares of Workday in the first quarter valued at about $27,000. Exchange Traded Concepts LLC raised its position in shares of Workday by 1,750.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after acquiring an additional 105 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its stake in shares of Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after acquiring an additional 49 shares during the period. 89.81% of the stock is owned by 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.