Workday (NASDAQ:WDAY) Major Shareholder David Duffield Sells 81,434 Shares

by · The Cerbat Gem

Workday, Inc. (NASDAQ:WDAY – Get Free Report) major shareholder David Duffield sold 81,434 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $215.98, for a total value of $17,588,115.32. Following the completion of the sale, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $22,688,483.02. This trade represents a 43.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Workday Stock Up 1.0%

NASDAQ:WDAY traded up $2.08 during trading hours on Thursday, hitting $218.08. 3,209,107 shares of the company’s stock traded hands, compared to its average volume of 2,645,381. The firm has a market cap of $57.36 billion, a P/E ratio of 91.63, a P/E/G ratio of 2.46 and a beta of 1.15. Workday, Inc. has a twelve month low of $205.33 and a twelve month high of $283.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83. The stock’s fifty day moving average price is $227.76 and its two-hundred day moving average price is $232.15.

Workday (NASDAQ:WDAY – Get Free Report) last announced its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.15. The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.42 billion. Workday had a return on equity of 10.50% and a net margin of 6.95%.The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the company posted $1.89 EPS. On average, research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Workday

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WDAY. AlphaQuest LLC grew its holdings in Workday by 636.7% in the 2nd quarter. AlphaQuest LLC now owns 1,886 shares of the software maker’s stock valued at $453,000 after buying an additional 1,630 shares during the last quarter. Norges Bank acquired a new stake in shares of Workday in the second quarter worth $442,702,000. Chicago Capital LLC grew its stake in shares of Workday by 2.2% in the second quarter. Chicago Capital LLC now owns 175,802 shares of the software maker’s stock worth $42,193,000 after acquiring an additional 3,824 shares during the last quarter. State of Alaska Department of Revenue increased its position in Workday by 21.1% during the second quarter. State of Alaska Department of Revenue now owns 30,370 shares of the software maker’s stock worth $7,288,000 after acquiring an additional 5,300 shares during the period. Finally, Vanguard Group Inc. raised its stake in Workday by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock valued at $5,067,404,000 after purchasing an additional 515,529 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Workday in a research note on Wednesday, November 26th. Citigroup lowered their price target on shares of Workday from $261.00 to $247.00 and set a “neutral” rating on the stock in a report on Wednesday, November 26th. Stifel Nicolaus dropped their price target on shares of Workday from $255.00 to $235.00 and set a “hold” rating on the stock in a research note on Wednesday, November 26th. Canaccord Genuity Group reduced their price objective on Workday from $330.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, August 22nd. Finally, Barclays lowered their target price on Workday from $288.00 to $280.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $282.22.

View Our Latest Analysis on Workday

Workday Company Profile

(Get Free Report)

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.

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