Parallel Advisors LLC Has $534,000 Holdings in Workday, Inc. (NASDAQ:WDAY)

Parallel Advisors LLC lowered its position in shares of Workday, Inc. (NASDAQ:WDAY) by 2.4% during the second quarter, Holdings Channel reports. The fund owned 2,390 shares of the software maker’s stock after selling 60 shares during the quarter. Parallel Advisors LLC’s holdings in Workday were worth $534,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. William Blair Investment Management LLC grew its position in Workday by 17.6% during the first quarter. William Blair Investment Management LLC now owns 32,442 shares of the software maker’s stock valued at $8,849,000 after purchasing an additional 4,865 shares in the last quarter. Assetmark Inc. grew its position in Workday by 9.9% during the fourth quarter. Assetmark Inc. now owns 21,414 shares of the software maker’s stock valued at $5,912,000 after purchasing an additional 1,933 shares in the last quarter. ORG Partners LLC grew its position in Workday by 3,717.9% during the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after purchasing an additional 3,123 shares in the last quarter. Bornite Capital Management LP purchased a new position in Workday during the fourth quarter valued at approximately $34,508,000. Finally, Nordea Investment Management AB grew its position in Workday by 3.0% during the first quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock valued at $128,851,000 after purchasing an additional 13,502 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of research analyst reports. UBS Group lowered their price objective on shares of Workday from $280.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Evercore ISI decreased their target price on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. JPMorgan Chase & Co. decreased their target price on shares of Workday from $300.00 to $285.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. KeyCorp boosted their target price on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Sanford C. Bernstein decreased their target price on shares of Workday from $321.00 to $301.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $288.15.

Workday Trading Down 0.4 %

WDAY opened at $248.12 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $65.75 billion, a PE ratio of 44.71, a PEG ratio of 5.40 and a beta of 1.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The firm has a 50-day moving average price of $236.20 and a two-hundred day moving average price of $242.39.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.10. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 EPS. As a group, equities analysts anticipate that Workday, Inc. will post 2.27 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 78,279 shares of Workday stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $23,059,998.33. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, major shareholder David A. Duffield sold 78,279 shares of Workday stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $23,059,998.33. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the sale, the insider now owns 730,000 shares of the company’s stock, valued at approximately $159,563,400. The disclosure for this sale can be found here. Insiders sold a total of 466,402 shares of company stock worth $107,992,034 in the last quarter. 20.00% of the stock is owned by company insiders.

About Workday

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.