Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $13,266,400.00 in Stock

The majority shareholder of Workday, Inc. (NASDAQ:WDAY – Get Your Free Report ) insider David A. Duffield sold 56,000 shares of Workday stock in a transaction on Monday, October 7th. The shares were sold at an average price of $236.90, for a total transaction of $13,266,400.00. Following the sale, the insider now directly owns 337,000 shares of the company’s stock, valued at approximately $79,835,300. This trade represents a decrease of 0.00 % in the stock holding. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Major shareholders who own more than 10% of a company’s stock are required to disclose their transactions to the SEC.

Business Day Price Performance

WDAY traded up $1.30 on Wednesday, hitting $240.77. 1,237,129 shares of the company traded hands, compared to its average volume of 2,171,592. 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 company’s fifty day moving average is $240.73 and its 200 day moving average is $239.50. Workday, Inc. it has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The firm has a market cap of $63.80 billion, a P/E ratio of 43.10, a price-to-earnings-growth ratio of 4.81 and a beta of 1.35.

Workday (NASDAQ:WDAY – Get Your Free Report ) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. In the same period last year, the company posted earnings of $0.40 per share. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Workday, Inc. will post 2.4 EPS for the current year.

The Wall Street analyst weighs in

A number of equities research analysts recently weighed in on the stock. Barclays upped their target price on shares of Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Needham & Company LLC cut their price target on shares of Workday from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $300.00 price target on shares of Workday in a research report on Friday, September 13th. Morgan Stanley cut their price target on shares of Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Finally, KeyCorp upped their target price on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Moderate Buy” and an average price target of $287.04, based on data from MarketBeat.

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Institutional inputs and outputs

Several institutional investors and hedge funds have recently added to or reduced their stakes in WDAY. Vanguard Group Inc. boosted its holdings in shares of Workday by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after purchasing an additional 324,540 shares in the last quarter. Sustainable Growth Advisers LP boosted its holdings in shares of Workday by 9.7% in the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after buying an additional 301,463 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Workday by 12.4% in the first quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after purchasing an additional 281,207 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Workday by 79.1% in the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after purchasing an additional 1,016,394 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings 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 buying an additional 118,180 shares in the last quarter. 89.81% of shares are currently owned by institutional investors and hedge funds.

Workday Company Profile

(Get a free report)

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers 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 information; financial consolidation; reduce closing time; promotes internal control and auditability; and achieving consistency between financial operations.

Further reading

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