Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $17,498,142.09 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 65,221 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $268.29, for a total value of $17,498,142.09. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $27,633,065.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Workday Stock Up 0.6 %

WDAY stock opened at $268.47 on Friday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average price of $282.73 and a two-hundred day moving average price of $260.76. The company has a market cap of $70.88 billion, a price-to-earnings ratio of 52.13, a P/E/G ratio of 6.71 and a beta of 1.32. Workday, Inc. has a twelve month low of $174.25 and a twelve month high of $311.28.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley boosted its stake in shares of Workday by 47.0% during the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after acquiring an additional 872,288 shares during the period. QRG Capital Management Inc. bought a new position in shares of Workday during the 3rd quarter worth approximately $345,000. Assenagon Asset Management S.A. boosted its stake in shares of Workday by 58.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 278,569 shares of the software maker’s stock worth $76,902,000 after acquiring an additional 103,171 shares during the period. Mariner LLC boosted its stake in shares of Workday by 21.1% during the 3rd quarter. Mariner LLC now owns 28,304 shares of the software maker’s stock worth $6,081,000 after acquiring an additional 4,927 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of Workday by 22,896.2% during the 4th quarter. International Assets Investment Management LLC now owns 241,000 shares of the software maker’s stock worth $66,530,000 after acquiring an additional 239,952 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. BMO Capital Markets raised their price target on Workday from $290.00 to $338.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 13th. Evercore ISI raised their price target on Workday from $310.00 to $350.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Piper Sandler reaffirmed an “overweight” rating and set a $330.00 price target on shares of Workday in a research report on Monday, February 26th. Guggenheim reaffirmed a “sell” rating and set a $190.00 price target on shares of Workday in a research report on Tuesday, February 27th. Finally, KeyCorp raised their price target on Workday from $310.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $293.61.

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.