Insider Selling: Workday, Inc. (NASDAQ:WDAY) Major Shareholder Sells $15,509,200.00 in Stock

Workday, Inc. (NASDAQ:WDAY) major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $276.95, for a total value of $15,509,200.00. Following the transaction, the insider now owns 1,011,000 shares of the company’s stock, valued at $279,996,450. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Workday Price Performance

Shares of NASDAQ WDAY opened at $272.75 on Friday. 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 fifty-two week low of $174.25 and a fifty-two week high of $311.28. The firm has a market capitalization of $72.01 billion, a PE ratio of 52.96, a price-to-earnings-growth ratio of 6.93 and a beta of 1.33. The stock’s 50-day simple moving average is $287.51 and its 200-day simple moving average is $258.71.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on WDAY. Evercore ISI increased their price target on Workday from $310.00 to $350.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. DA Davidson restated a “neutral” rating and set a $300.00 target price on shares of Workday in a report on Tuesday, February 27th. BMO Capital Markets raised their target price on Workday from $290.00 to $338.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. JMP Securities restated a “market outperform” rating and set a $315.00 target price on shares of Workday in a report on Tuesday, February 27th. Finally, Wells Fargo & Company raised their target price on Workday from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus target price of $293.61.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC purchased a new position in Workday during the 4th quarter worth approximately $826,000. Quadrature Capital Ltd purchased a new position in Workday during the 4th quarter worth approximately $42,167,000. PNC Financial Services Group Inc. grew its stake in Workday by 55.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 25,720 shares of the software maker’s stock worth $7,100,000 after buying an additional 9,126 shares during the last quarter. Grayhawk Investment Strategies Inc. purchased a new position in Workday during the 4th quarter worth approximately $721,000. Finally, Sivia Capital Partners LLC purchased a new position in Workday during the 4th quarter worth approximately $208,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

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.