Paragon Capital Management Inc. Acquires New Stake in Workday, Inc. $WDAY

Paragon Capital Management Inc. bought a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 6,137 shares of the software maker’s stock, valued at approximately $797,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WDAY. Rakuten Securities Inc. purchased a new stake in Workday during the second quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Workday during the third quarter worth about $26,000. JPL Wealth Management LLC purchased a new position in shares of Workday in the third quarter valued at approximately $30,000. DT Investment Partners LLC purchased a new position in shares of Workday in the fourth quarter valued at approximately $27,000. Finally, LRI Investments LLC acquired a new position in shares of Workday in the fourth quarter valued at approximately $29,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WDAY. Rosenblatt Securities cut their target price on shares of Workday from $180.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Evercore cut shares of Workday from an “outperform” rating to an “in-line” rating and set a $160.00 price target for the company. in a research report on Wednesday, February 25th. Morgan Stanley dropped their price target on shares of Workday from $280.00 to $200.00 and set an “equal weight” rating for the company in a research note on Monday, February 23rd. Wolfe Research reaffirmed an “outperform” rating and set a $160.00 price objective on shares of Workday in a research report on Friday, May 22nd. Finally, Bank of America initiated coverage on Workday in a research note on Wednesday, May 27th. They issued a “neutral” rating and a $140.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $185.03.

Insider Transactions at Workday

In other Workday news, insider Robert Enslin sold 5,373 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $129.41, for a total value of $695,319.93. Following the sale, the insider directly owned 165,414 shares in the company, valued at $21,406,225.74. This trade represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $128.22, for a total value of $769,320.00. Following the sale, the chief financial officer directly owned 217,930 shares of the company’s stock, valued at $27,942,984.60. This trade represents a 2.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold a total of 667,314 shares of company stock valued at $87,564,716 over the last ninety days. Company insiders own 18.64% of the company’s stock.

Workday Stock Down 3.3%

Shares of Workday stock opened at $113.04 on Tuesday. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $249.85. The company has a 50 day moving average of $127.53 and a 200 day moving average of $155.46. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $27.92 billion, a P/E ratio of 35.33, a P/E/G ratio of 1.25 and a beta of 1.09.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the firm posted $2.23 EPS. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, research analysts forecast that Workday, Inc. will post 5.34 EPS 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.