Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $12,841,920.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $229.32, for a total value of $12,841,920.00. Following the sale, the insider now directly owns 562,000 shares of the company’s stock, valued at $128,877,840. 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 Trading Up 1.4 %

WDAY traded up $3.16 during midday trading on Tuesday, hitting $235.63. The company’s stock had a trading volume of 1,652,154 shares, compared to its average volume of 2,196,268. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.37. The firm has a market cap of $62.44 billion, a P/E ratio of 42.46, a PEG ratio of 5.79 and a beta of 1.35. The firm has a 50-day moving average price of $227.05 and a two-hundred day moving average price of $259.62. Workday, Inc. has a 52-week low of $202.01 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, beating the consensus estimate of $0.31 by $0.20. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 EPS. On average, research analysts anticipate that Workday, Inc. will post 2.12 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on WDAY. Loop Capital decreased their price target on Workday from $280.00 to $240.00 and set a “hold” rating for the company in a report on Friday, May 24th. Morgan Stanley reduced their target price on Workday from $330.00 to $325.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Piper Sandler reduced their target price on Workday from $280.00 to $262.00 and set an “overweight” rating for the company in a report on Friday. Barclays reduced their target price on Workday from $316.00 to $286.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Finally, The Goldman Sachs Group reduced their target price on Workday from $310.00 to $300.00 and set a “buy” rating for the company in a report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $281.44.

Institutional Trading of Workday

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WDAY. B. Riley Wealth Advisors Inc. lifted its stake in shares of Workday by 22.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 2,417 shares of the software maker’s stock valued at $519,000 after purchasing an additional 450 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Workday by 1,750.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after purchasing an additional 105 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Workday by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 455,413 shares of the software maker’s stock valued at $125,348,000 after purchasing an additional 17,850 shares in the last quarter. Marcum Wealth LLC acquired a new position in shares of Workday in the 4th quarter valued at about $207,000. Finally, BKM Wealth Management LLC acquired a new position in shares of Workday in the 4th quarter valued at about $117,000. Hedge funds and other 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.