Parnassus Investments LLC Has $774.48 Million Position in Workday, Inc. $WDAY

Parnassus Investments LLC lifted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 13.1% during the 3rd quarter, Holdings Channel reports. The firm owned 3,217,205 shares of the software maker’s stock after purchasing an additional 371,561 shares during the quarter. Workday comprises 1.8% of Parnassus Investments LLC’s portfolio, making the stock its 20th biggest holding. Parnassus Investments LLC’s holdings in Workday were worth $774,478,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Verdence Capital Advisors LLC boosted its holdings in shares of Workday by 1.0% during the 2nd quarter. Verdence Capital Advisors LLC now owns 4,381 shares of the software maker’s stock worth $1,051,000 after buying an additional 45 shares during the period. Perennial Investment Advisors LLC boosted its stake in Workday by 2.8% in the 2nd quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock valued at $418,000 after purchasing an additional 48 shares during the period. Johnson Investment Counsel Inc. grew its holdings in Workday by 2.3% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,201 shares of the software maker’s stock valued at $528,000 after buying an additional 49 shares in the last quarter. Bay Harbor Wealth Management LLC lifted its holdings in shares of Workday by 12.0% during the third quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker’s stock worth $110,000 after buying an additional 49 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Workday by 1.2% in the third quarter. Farther Finance Advisors LLC now owns 4,128 shares of the software maker’s stock valued at $994,000 after acquiring an additional 49 shares during the period. Institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In related news, insider Gerrit S. Kazmaier sold 6,547 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $218.77, for a total value of $1,432,287.19. Following the transaction, the insider directly owned 111,353 shares in the company, valued at approximately $24,360,695.81. This represents a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 82,884 shares of Workday stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $209.75, for a total transaction of $17,384,919.00. Following the sale, the insider owned 105,049 shares of the company’s stock, valued at approximately $22,034,027.75. The trade was a 44.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 370,321 shares of company stock valued at $78,866,401 over the last 90 days. Insiders own 19.31% of the company’s stock.

Workday Stock Down 1.2%

WDAY stock opened at $207.18 on Friday. The stock’s fifty day simple moving average is $219.85 and its two-hundred day simple moving average is $228.46. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34. Workday, Inc. has a 1-year low of $202.22 and a 1-year high of $283.68. The stock has a market cap of $54.49 billion, a P/E ratio of 87.05, a P/E/G ratio of 2.37 and a beta of 1.14.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.15. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.42 billion. Workday had a return on equity of 10.50% and a net margin of 6.95%.The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period last year, the business posted $1.89 earnings per share. Analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Upgrades and Downgrades

WDAY has been the subject of several recent analyst reports. UBS Group set a $260.00 price objective on shares of Workday in a research report on Wednesday, November 26th. Wells Fargo & Company cut their target price on Workday from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Sanford C. Bernstein decreased their price target on Workday from $304.00 to $298.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 26th. Evercore ISI boosted their price target on Workday from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Finally, Zacks Research cut Workday from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $281.59.

About Workday

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.