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

Cynosure Group LLC lifted its position in Workday, Inc. (NASDAQ:WDAY) by 6.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,661 shares of the software maker’s stock after purchasing an additional 1,279 shares during the quarter. Workday accounts for about 0.8% of Cynosure Group LLC’s holdings, making the stock its 24th largest holding. Cynosure Group LLC’s holdings in Workday were worth $5,539,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WDAY. Capital Performance Advisors LLP purchased a new stake in Workday during the 3rd quarter valued at about $26,000. SouthState Corp boosted its stake in shares of Workday by 614.3% during the second 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 increased its stake in shares of Workday by 56.6% in the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock worth $35,000 after buying an additional 56 shares during the period. Goodman Advisory Group LLC purchased a new position in shares of Workday in the second quarter worth $35,000. Finally, Meeder Asset Management Inc. boosted its position in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Evercore ISI lowered their price objective on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Piper Sandler reiterated an “overweight” rating and issued a $285.00 price objective on shares of Workday in a report on Wednesday, September 18th. Barclays boosted their target price on Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. The Goldman Sachs Group lifted their price target on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, JMP Securities restated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $289.46.

Insiders Place Their Bets

In other news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $255.45, for a total value of $1,915,875.00. Following the transaction, the director now owns 90,000 shares in the company, valued at $22,990,500. This represents a 7.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the sale, the insider now owns 281,000 shares of the company’s stock, valued at $68,004,810. This trade represents a 16.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 359,954 shares of company stock valued at $88,742,132. Company insiders own 20.00% of the company’s stock.

Workday Trading Up 0.9 %

Workday stock opened at $270.19 on Wednesday. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The business’s fifty day moving average is $248.52 and its 200 day moving average is $237.21. The stock has a market capitalization of $71.60 billion, a PE ratio of 47.07, a price-to-earnings-growth 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 announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the firm posted $0.47 EPS. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, sell-side analysts predict that Workday, Inc. will post 2.4 EPS 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.