Workday, Inc. (NASDAQ:WDAY) Stock Position Reduced by Parnassus Investments LLC

Parnassus Investments LLC reduced its stake in shares of Workday, Inc. (NASDAQ:WDAYFree Report) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 722,852 shares of the software maker’s stock after selling 38,509 shares during the quarter. Parnassus Investments LLC’s holdings in Workday were worth $155,305,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of WDAY. Atria Wealth Solutions Inc. lifted its stake in shares of Workday by 3.4% in the third quarter. Atria Wealth Solutions Inc. now owns 9,053 shares of the software maker’s stock valued at $1,945,000 after buying an additional 299 shares during the period. Dorsey & Whitney Trust CO LLC lifted its position in shares of Workday by 4.9% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 1,029 shares of the software maker’s stock worth $221,000 after acquiring an additional 48 shares during the period. Banque Cantonale Vaudoise lifted its position in shares of Workday by 5.1% in the 3rd quarter. Banque Cantonale Vaudoise now owns 9,782 shares of the software maker’s stock worth $2,100,000 after acquiring an additional 478 shares during the period. Values First Advisors Inc. acquired a new stake in shares of Workday during the 3rd quarter worth approximately $489,000. Finally, Amalgamated Bank increased its position in shares of Workday by 7.5% during the third quarter. Amalgamated Bank now owns 23,720 shares of the software maker’s stock valued at $5,096,000 after purchasing an additional 1,654 shares during the period. 68.46% of the stock is owned by institutional investors.

Workday Trading Down 1.6 %

NASDAQ:WDAY traded down $4.71 during mid-day trading on Monday, hitting $290.03. The company had a trading volume of 184,624 shares, compared to its average volume of 1,223,470. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.13 and a current ratio of 2.13. Workday, Inc. has a fifty-two week low of $174.06 and a fifty-two week high of $298.00. The firm has a market cap of $76.28 billion, a P/E ratio of 1,228.08, a P/E/G ratio of 6.08 and a beta of 1.35. The business’s fifty day moving average is $276.48 and its two-hundred day moving average is $244.84.

Workday (NASDAQ:WDAYGet Free Report) last announced its quarterly earnings results on Tuesday, November 28th. The software maker reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.12. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. Workday had a net margin of 0.95% and a return on equity of 3.87%. Workday’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period last year, the company posted $0.03 EPS. As a group, research analysts expect that Workday, Inc. will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WDAY shares. Canaccord Genuity Group lifted their price target on shares of Workday from $260.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, November 29th. Mizuho upped their target price on shares of Workday from $260.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, November 29th. BMO Capital Markets raised their price target on shares of Workday from $260.00 to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 29th. Wells Fargo & Company upped their price objective on Workday from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, November 29th. Finally, Bank of America raised their target price on Workday from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, November 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $264.74.

Check Out Our Latest Stock Analysis on Workday

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 108,333 shares of Workday stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $276.88, for a total transaction of $29,995,241.04. Following the transaction, the insider now owns 1,124,000 shares in the company, valued at approximately $311,213,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder David A. Duffield sold 108,333 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $276.88, for a total transaction of $29,995,241.04. Following the sale, the insider now directly owns 1,124,000 shares in the company, valued at $311,213,120. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 62,731 shares of the stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $281.45, for a total value of $17,655,639.95. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $28,988,505.65. The disclosure for this sale can be found here. Insiders sold a total of 392,775 shares of company stock worth $107,780,173 in the last quarter. Corporate insiders own 21.09% of the company’s stock.

About Workday

(Free Report)

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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