Paradigm Asset Management Co. LLC Takes $232,000 Position in Workday, Inc. (NASDAQ:WDAY)

Paradigm Asset Management Co. LLC purchased a new position in Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, Holdings Channel reports. The fund purchased 900 shares of the software maker’s stock, valued at approximately $232,000.

Other institutional investors also recently added to or reduced their stakes in the company. Cromwell Holdings LLC bought a new position in shares of Workday during the 4th quarter valued at approximately $51,000. First Bank & Trust raised its stake in shares of Workday by 49.2% in the fourth quarter. First Bank & Trust now owns 6,029 shares of the software maker’s stock valued at $1,556,000 after buying an additional 1,989 shares during the period. Concurrent Investment Advisors LLC raised its stake in shares of Workday by 14.8% in the fourth quarter. Concurrent Investment Advisors LLC now owns 2,157 shares of the software maker’s stock valued at $557,000 after buying an additional 278 shares during the period. Advyzon Investment Management LLC bought a new position in shares of Workday during the 4th quarter worth $292,000. Finally, Ieq Capital LLC increased its holdings in Workday by 27.1% in the 4th quarter. Ieq Capital LLC now owns 24,080 shares of the software maker’s stock worth $6,213,000 after acquiring an additional 5,135 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Insider Activity at Workday

In related news, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the sale, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the transaction, the director now directly owns 6,845 shares of the company’s stock, valued at $1,732,401.05. This represents a 21.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 438,819 shares of company stock worth $113,142,592 over the last quarter. Corporate insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WDAY. JMP Securities reiterated a “market outperform” rating and set a $315.00 target price on shares of Workday in a research report on Thursday, February 6th. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Thursday, February 6th. Piper Sandler reissued a “neutral” rating and set a $270.00 price objective (down previously from $285.00) on shares of Workday in a report on Wednesday, November 27th. Redburn Atlantic initiated coverage on shares of Workday in a report on Wednesday. They issued a “neutral” rating for the company. Finally, Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and lifted their price objective for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $291.11.

Workday Price Performance

WDAY stock opened at $256.39 on Friday. 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 firm’s 50-day moving average price is $260.75 and its two-hundred day moving average price is $252.87. The stock has a market capitalization of $68.20 billion, a price-to-earnings ratio of 42.52, a PEG ratio of 3.55 and a beta of 1.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 EPS. As a group, equities analysts predict that Workday, Inc. will post 2.63 earnings per share 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.