Cynosure Group LLC Raises Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Cynosure Group LLC grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 6.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,661 shares of the software maker’s stock after buying an additional 1,279 shares during the period. Workday accounts for 0.8% of Cynosure Group LLC’s portfolio, making the stock its 24th biggest holding. Cynosure Group LLC’s holdings in Workday were worth $5,539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in WDAY. Capital Performance Advisors LLP purchased a new position in Workday during the third quarter valued at approximately $26,000. SouthState Corp raised its position in shares of Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after purchasing an additional 129 shares during the period. Crewe Advisors LLC lifted its stake in shares of Workday by 56.6% during the 2nd quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after buying an additional 56 shares in the last quarter. Goodman Advisory Group LLC bought a new position in Workday in the 2nd quarter worth $35,000. Finally, Meeder Asset Management Inc. boosted its holdings in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The trade was a 39.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $241.85, for a total value of $442,101.80. Following the completion of the transaction, the director now directly owns 8,674 shares in the company, valued at approximately $2,097,806.90. This trade represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 359,954 shares of company stock valued at $88,742,132. 20.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. KeyCorp boosted their price objective on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Bank of America boosted their price target on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. The Goldman Sachs Group increased their price objective on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Needham & Company LLC reissued a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Monday. Finally, Barclays raised their target price on shares of Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $289.46.

Workday Stock Up 0.9 %

Shares of NASDAQ WDAY opened at $270.19 on Wednesday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The firm has a 50-day simple moving average of $248.52 and a two-hundred day simple moving average of $237.21. The company has a market cap of $71.60 billion, a P/E ratio of 47.07, a PEG ratio of 5.31 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. Workday’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period last year, the company earned $0.47 EPS. Research analysts anticipate that Workday, Inc. will post 2.4 earnings per share for the current 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.