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

Paralel Advisors LLC bought a new position in Workday, Inc. (NASDAQ:WDAY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,792 shares of the software maker’s stock, valued at approximately $2,178,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC lifted its stake in Workday by 230.2% in the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after purchasing an additional 2,792 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Workday by 12.1% in the first quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock worth $2,602,000 after purchasing an additional 1,206 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Workday by 211.7% in the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after purchasing an additional 127 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Workday in the second quarter worth about $281,000. Finally, NewEdge Advisors LLC lifted its position in shares of Workday by 32.0% in the second quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker’s stock worth $1,583,000 after buying an additional 1,600 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

WDAY has been the subject of several research analyst reports. William Blair restated an “outperform” rating on shares of Workday in a report on Friday, August 28th. Wells Fargo & Company upped their price objective on Workday from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, August 28th. CLSA began coverage on Workday in a research report on Monday, July 20th. They set an “underperform” rating and a $92.00 target price for the company. Stifel Nicolaus increased their target price on Workday from $115.00 to $160.00 and gave the company a “hold” rating in a research report on Friday, August 28th. Finally, Wall Street Zen raised shares of Workday from a “hold” rating to a “buy” rating in a report on Saturday. Twenty research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $206.34.

Insider Activity

In related news, CFO Zane Rowe sold 6,000 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total transaction of $862,200.00. Following the sale, the chief financial officer owned 288,460 shares in the company, valued at approximately $41,451,702. This represents a 2.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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, insider Robert Enslin sold 5,374 shares of the firm’s stock in a transaction on 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 owned 239,469 shares of the company’s stock, valued at approximately $32,304,368.10. This represents a 2.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last 90 days, insiders have sold 862,481 shares of company stock valued at $116,785,581. 18.64% of the stock is currently owned by insiders.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $195.79 on Monday. The business’s 50 day moving average is $166.01 and its two-hundred day moving average is $142.60. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91. Workday, Inc. has a 1-year low of $110.36 and a 1-year high of $249.85. The stock has a market capitalization of $48.36 billion, a P/E ratio of 39.71, a PEG 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $0.14. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%.The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.21 earnings per share. As a group, research analysts expect that Workday, Inc. will post 5.3 EPS for the current year.

Workday 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.