Insider Selling: Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $17,430,890.54 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 64,162 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $271.67, for a total value of $17,430,890.54. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $27,981,194.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Workday Price Performance

NASDAQ:WDAY opened at $268.32 on Friday. The stock’s 50-day simple moving average is $285.17 and its 200 day simple moving average is $259.67. The company has a market cap of $70.84 billion, a P/E ratio of 52.10, a P/E/G ratio of 6.72 and a beta of 1.32. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. Workday, Inc. has a 52-week low of $174.25 and a 52-week high of $311.28.

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

Hedge Funds Weigh In On Workday

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Workday by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock worth $3,988,549,000 after acquiring an additional 437,215 shares during the period. Norges Bank bought a new stake in shares of Workday during the fourth quarter worth approximately $1,491,149,000. Wellington Management Group LLP boosted its holdings in shares of Workday by 37.4% during the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock worth $1,109,348,000 after acquiring an additional 1,406,153 shares during the period. State Street Corp boosted its holdings in shares of Workday by 0.5% during the second quarter. State Street Corp now owns 4,293,651 shares of the software maker’s stock worth $969,893,000 after acquiring an additional 22,929 shares during the period. Finally, Polen Capital Management LLC boosted its holdings in shares of Workday by 2.0% during the third quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker’s stock worth $848,726,000 after acquiring an additional 78,352 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley reduced their target price on Workday from $335.00 to $330.00 and set an “overweight” rating for the company in a report on Tuesday, February 27th. TheStreet raised Workday from a “c” rating to a “b-” rating in a report on Monday, February 26th. JPMorgan Chase & Co. raised their target price on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Piper Sandler restated an “overweight” rating and issued a $330.00 price target on shares of Workday in a research report on Monday, February 26th. Finally, UBS Group dropped their price objective on Workday from $315.00 to $300.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. One 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $293.61.

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.