Parallel Advisors LLC Acquires 99 Shares of Workday, Inc. (NASDAQ:WDAY)

Parallel Advisors LLC lifted its holdings in Workday, Inc. (NASDAQ:WDAY) by 3.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,636 shares of the software maker’s stock after buying an additional 99 shares during the period. Parallel Advisors LLC’s holdings in Workday were worth $680,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bristlecone Advisors LLC increased its position in Workday by 49.6% in the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock valued at $754,000 after buying an additional 968 shares in the last quarter. Sanctuary Advisors LLC increased its position in Workday by 7.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after buying an additional 1,978 shares in the last quarter. Nordea Investment Management AB increased its position in Workday by 20.5% in the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after buying an additional 119,769 shares in the last quarter. Burns Matteson Capital Management LLC bought a new stake in Workday in the 4th quarter valued at about $369,000. Finally, Worldquant Millennium Advisors LLC increased its position in Workday by 387.0% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 355,655 shares of the software maker’s stock valued at $86,926,000 after buying an additional 282,632 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on WDAY shares. Scotiabank decreased their target price on Workday from $355.00 to $305.00 and set a “sector outperform” rating for the company in a research report on Monday. BNP Paribas upgraded Workday to a “strong-buy” rating in a research note on Friday, February 14th. KeyCorp lifted their price target on Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Piper Sandler lifted their price target on Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Finally, Daiwa America upgraded Workday to a “strong-buy” rating in a research note on Tuesday, March 4th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $300.36.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $265.70, for a total transaction of $14,879,200.00. Following the sale, the insider now owns 228,000 shares of the company’s stock, valued at $60,579,600. The trade was a 19.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the completion of the transaction, the director now directly owns 75,000 shares in the company, valued at approximately $18,099,750. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 473,001 shares of company stock valued at $120,614,400 in the last 90 days. 20.00% of the stock is currently owned by company insiders.

Workday Price Performance

Workday stock opened at $250.47 on Friday. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The business’s 50 day simple moving average is $256.76 and its 200 day simple moving average is $255.24. The company has a market cap of $66.63 billion, a price-to-earnings ratio of 41.54, a PEG ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Sell-side analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Workday Company Profile

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 to manage their business and operations. The company offers a suite of financial management applications 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.