Paralel Advisors LLC Takes Position in Workday, Inc. $WDAY

Paralel Advisors LLC purchased a new position in Workday, Inc. (NASDAQ:WDAY) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 17,792 shares of the software maker’s stock, valued at approximately $2,178,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Plato Investment Management Ltd purchased a new stake in Workday in the second quarter worth $1,115,000. Norges Bank purchased a new stake in shares of Workday during the fourth quarter valued at $448,804,000. S&CO Inc. purchased a new stake in shares of Workday during the second quarter valued at $2,284,000. Harvest Fund Management Co. Ltd grew its holdings in shares of Workday by 40.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock worth $11,943,000 after purchasing an additional 15,903 shares during the last quarter. Finally, Aurora Investment Counsel bought a new position in shares of Workday in the fourth quarter worth about $2,357,000. 89.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on WDAY. Sanford C. Bernstein lifted their price objective on shares of Workday from $216.00 to $238.00 and gave the company an “outperform” rating in a report on Friday, August 28th. Citigroup upped their target price on shares of Workday from $139.00 to $201.00 and gave the stock a “neutral” rating in a research note on Friday, August 28th. BMO Capital Markets raised their target price on shares of Workday from $182.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. Bank of America lifted their price target on shares of Workday from $140.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday, August 19th. Finally, Robert W. Baird boosted their price target on Workday from $190.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Twenty investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Workday has an average rating of “Hold” and an average target price of $206.34.

Insider Activity at Workday

In other Workday news, insider Robert Enslin sold 5,374 shares of the stock in a transaction dated Sunday, July 5th. The stock was sold at an average price of $134.90, for a total value of $724,952.60. Following the completion of the sale, the insider directly owned 239,469 shares in the company, valued at approximately $32,304,368.10. This trade represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David Duffield sold 107,500 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $122.04, for a total value of $13,119,300.00. Following the completion of the sale, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $12,820,179.96. This represents a 50.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 862,481 shares of company stock valued at $116,785,581 in the last ninety days. Corporate insiders own 18.64% of the company’s stock.

Workday Price Performance

Shares of WDAY opened at $195.79 on Monday. The company has a 50 day moving average of $166.01 and a two-hundred day moving average of $142.60. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $249.85. The company has a market cap of $48.36 billion, a price-to-earnings ratio of 39.71, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, beating the consensus estimate of $2.61 by $0.14. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%.The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.21 EPS. As a group, analysts predict that Workday, Inc. will post 5.3 earnings per share for the current fiscal year.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.