Parallel Advisors LLC Has $2.34 Million Stock Position in Workday, Inc. $WDAY

Parallel Advisors LLC lifted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 220.2% in the third quarter, HoldingsChannel reports. The fund owned 9,727 shares of the software maker’s stock after buying an additional 6,689 shares during the period. Parallel Advisors LLC’s holdings in Workday were worth $2,342,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in WDAY. Rakuten Securities Inc. acquired a new stake in Workday in the second quarter worth about $25,000. Berbice Capital Management LLC lifted its position in Workday by 136.4% during the 2nd quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock valued at $31,000 after purchasing an additional 75 shares during the period. Golden State Wealth Management LLC lifted its position in Workday by 2,216.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock valued at $33,000 after purchasing an additional 133 shares during the period. Root Financial Partners LLC bought a new position in shares of Workday in the 3rd quarter valued at about $40,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Workday during the 2nd quarter worth approximately $41,000. Institutional investors own 89.81% of the company’s stock.

Workday Stock Down 1.9%

Shares of NASDAQ WDAY opened at $148.14 on Tuesday. Workday, Inc. has a 52-week low of $117.76 and a 52-week high of $276.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.83 and a current ratio of 1.32. The stock has a market cap of $38.96 billion, a P/E ratio of 57.42, a P/E/G ratio of 1.47 and a beta of 1.17. The firm has a 50 day moving average price of $170.76 and a 200 day moving average price of $208.28.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.15. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 7.26% and a return on equity of 13.37%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the business posted $1.92 earnings per share. Analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Insiders Place Their Bets

In other Workday news, CAO Mark S. Garfield sold 953 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $209.56, for a total value of $199,710.68. Following the completion of the transaction, the chief accounting officer directly owned 35,336 shares of the company’s stock, valued at approximately $7,405,012.16. The trade was a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $208.75, for a total value of $1,252,500.00. Following the completion of the sale, the chief financial officer owned 159,158 shares of the company’s stock, valued at $33,224,232.50. This trade represents a 3.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 503,296 shares of company stock worth $91,729,216 over the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

WDAY has been the subject of a number of recent research reports. Jefferies Financial Group downgraded shares of Workday from a “buy” rating to a “hold” rating and dropped their price target for the stock from $325.00 to $150.00 in a research note on Monday, February 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Wednesday, February 25th. Barclays lowered their target price on shares of Workday from $230.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. The Goldman Sachs Group cut their price target on Workday from $238.00 to $206.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Finally, Macquarie Infrastructure restated a “buy” rating on shares of Workday in a research report on Wednesday, November 26th. Twenty equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $205.19.

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.