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 stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $242.01, for a total value of $13,552,560.00. Following the sale, the insider now owns 281,000 shares of the company’s stock, valued at $68,004,810. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 Up 1.0 %

Shares of Workday stock traded up $2.36 during midday trading on Tuesday, hitting $244.83. The company had a trading volume of 2,187,219 shares, compared to its average volume of 2,162,419. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a market capitalization of $64.88 billion, a P/E ratio of 44.36, a P/E/G ratio of 4.87 and a beta of 1.35. The company has a 50 day moving average of $242.67 and a 200 day moving average of $238.58. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the business posted $0.40 EPS. The company’s revenue was up 16.5% compared to the same quarter last year. On average, equities analysts predict that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Stifel Nicolaus upped their price target on Workday from $250.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Guggenheim reaffirmed a “sell” rating and set a $190.00 price target on shares of Workday in a research report on Tuesday, June 25th. Loop Capital upped their price target on Workday from $240.00 to $255.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Needham & Company LLC lowered their price target on Workday from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus price target of $287.04.

Institutional Trading of Workday

Several institutional investors have recently added to or reduced their stakes in WDAY. Integrated Advisors Network LLC purchased a new stake in Workday during the 4th quarter valued at $276,000. EP Wealth Advisors LLC boosted its stake in Workday by 4.3% during the 4th quarter. EP Wealth Advisors LLC now owns 3,004 shares of the software maker’s stock valued at $829,000 after purchasing an additional 124 shares during the last quarter. American International Group Inc. boosted its stake in Workday by 3.0% during the 4th quarter. American International Group Inc. now owns 14,523 shares of the software maker’s stock valued at $4,009,000 after purchasing an additional 420 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in Workday during the 4th quarter valued at $110,000. Finally, PNC Financial Services Group Inc. boosted its stake in Workday by 55.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 25,720 shares of the software maker’s stock valued at $7,100,000 after purchasing an additional 9,126 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

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.