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 dated Monday, December 23rd. The stock was sold at an average price of $265.70, for a total transaction of $14,879,200.00. Following the transaction, the insider now owns 228,000 shares of the company’s stock, valued at $60,579,600. This represents a 19.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major 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 Workday stock traded up $0.34 on Thursday, reaching $269.38. The stock had a trading volume of 1,243,757 shares, compared to its average volume of 2,448,117. The stock has a market cap of $71.66 billion, a P/E ratio of 44.67, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The business’s 50-day moving average price is $258.52 and its two-hundred day moving average price is $242.21.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 EPS. On average, sell-side analysts forecast that Workday, Inc. will post 2.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WDAY shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price target on shares of Workday in a research note on Monday, November 25th. The Goldman Sachs Group upped their target price on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. BMO Capital Markets reiterated an “outperform” rating and set a $300.00 price target on shares of Workday in a research report on Wednesday, September 18th. JMP Securities restated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a report on Thursday, September 19th. Finally, Scotiabank assumed coverage on Workday in a report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $291.36.

Institutional Trading of Workday

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC lifted its holdings in shares of Workday by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after acquiring an additional 1,978 shares during the period. Grafton Street Partners Fund LP bought a new position in Workday during the 3rd quarter valued at about $4,424,000. ICICI Prudential Asset Management Co Ltd grew its stake in Workday by 32.4% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after buying an additional 7,802 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Workday by 7.4% in the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after acquiring an additional 118,180 shares during the last quarter. Finally, Atria Investments Inc boosted its holdings in shares of Workday by 19.3% in the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock worth $10,833,000 after acquiring an additional 7,175 shares in the last quarter. 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.