Paragon Capital Management Inc. Buys New Stake in Workday, Inc. $WDAY

Paragon Capital Management Inc. purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,137 shares of the software maker’s stock, valued at approximately $797,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WDAY. Vanguard Group Inc. boosted its position in shares of Workday by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock valued at $5,371,495,000 after purchasing an additional 3,210,232 shares during the period. Auto Owners Insurance Co increased its position in Workday by 25,412.8% during the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock worth $2,197,332,000 after buying an additional 10,190,516 shares during the period. State Street Corp increased its position in Workday by 1.0% during the fourth quarter. State Street Corp now owns 9,770,707 shares of the software maker’s stock worth $2,098,552,000 after buying an additional 96,139 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its stake in Workday by 47.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock valued at $1,406,463,000 after buying an additional 1,882,391 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Workday by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker’s stock valued at $1,089,970,000 after buying an additional 75,922 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Trading Down 3.3%

NASDAQ:WDAY opened at $113.04 on Tuesday. The firm has a market cap of $27.92 billion, a P/E ratio of 35.33, a PEG ratio of 1.25 and a beta of 1.09. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The stock’s 50 day simple moving average is $127.53 and its 200-day simple moving average is $155.46. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $249.85.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the company earned $2.23 earnings per share. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities analysts anticipate that Workday, Inc. will post 5.34 EPS for the current year.

Insider Buying and Selling

In other Workday news, insider Robert Enslin sold 5,373 shares of the company’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $129.41, for a total transaction of $695,319.93. Following the completion of the transaction, the insider owned 165,414 shares in the company, valued at approximately $21,406,225.74. This represents a 3.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gerrit S. Kazmaier sold 9,356 shares of Workday stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total transaction of $1,201,216.84. Following the completion of the sale, the insider directly owned 165,074 shares in the company, valued at approximately $21,193,850.86. The trade was a 5.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 667,314 shares of company stock worth $87,564,716 in the last ninety days. Insiders own 18.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on WDAY shares. Sanford C. Bernstein restated an “outperform” rating and set a $216.00 target price on shares of Workday in a research report on Friday, May 22nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Workday in a research report on Wednesday, June 17th. Wolfe Research reiterated an “outperform” rating and set a $160.00 price target on shares of Workday in a research note on Friday, May 22nd. TD Cowen reissued a “hold” rating on shares of Workday in a research report on Friday, May 22nd. Finally, HC Wainwright set a $140.00 price objective on shares of Workday in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $185.03.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.