Workday, Inc. (NASDAQ:WDAY) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC reduced its position in Workday, Inc. (NASDAQ:WDAY) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 369,638 shares of the software maker’s stock after selling 1,232 shares during the quarter. Parnassus Investments LLC’s holdings in Workday were worth $90,343,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WDAY. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Workday in the 3rd quarter worth approximately $6,334,000. Prospera Financial Services Inc lifted its stake in Workday by 71.1% during the third quarter. Prospera Financial Services Inc now owns 3,339 shares of the software maker’s stock worth $816,000 after purchasing an additional 1,388 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares during the period. Tranquility Partners LLC acquired a new stake in Workday in the third quarter worth approximately $213,000. Finally, Caprock Group LLC raised its stake in shares of Workday by 14.5% in the 3rd quarter. Caprock Group LLC now owns 3,046 shares of the software maker’s stock worth $744,000 after buying an additional 386 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. KeyCorp lifted their target price on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Loop Capital raised their price objective on shares of Workday from $255.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Wells Fargo & Company boosted their target price on shares of Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Bank of America raised their target price on shares of Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, DA Davidson upped their price target on Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $289.46.

Insider Activity

In related news, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. This trade represents a 39.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $260.29, for a total value of $812,365.09. Following the sale, the insider now directly owns 196,344 shares in the company, valued at approximately $51,106,379.76. This trade represents a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 370,575 shares of company stock valued at $91,506,897. 20.00% of the stock is owned by insiders.

Workday Stock Performance

Shares of WDAY opened at $259.36 on Tuesday. The firm has a market cap of $68.73 billion, a price-to-earnings ratio of 45.18, a price-to-earnings-growth ratio of 5.15 and a beta of 1.35. The company’s fifty day moving average is $246.86 and its 200-day moving average is $236.54. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last posted its earnings results 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 company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business’s revenue was up 16.5% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share. Equities analysts expect that Workday, Inc. will post 2.4 EPS for the current fiscal year.

Workday 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.