Cynosure Group LLC Decreases Stake in Workday, Inc. (NASDAQ:WDAY)

Cynosure Group LLC trimmed its holdings in Workday, Inc. (NASDAQ:WDAY) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,595 shares of the software maker’s stock after selling 66 shares during the period. Workday accounts for approximately 0.9% of Cynosure Group LLC’s holdings, making the stock its 22nd largest holding. Cynosure Group LLC’s holdings in Workday were worth $5,830,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of WDAY. Crews Bank & Trust acquired a new stake in shares of Workday during the fourth quarter worth approximately $26,000. Roxbury Financial LLC acquired a new position in Workday during the 4th quarter valued at about $25,000. Avion Wealth grew its holdings in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares in the last quarter. TCTC Holdings LLC acquired a new position in shares of Workday during the fourth quarter valued at $35,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of Workday by 78.6% in the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock valued at $39,000 after acquiring an additional 66 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Up 0.4 %

WDAY stock opened at $234.53 on Wednesday. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The company has a 50 day moving average price of $256.02 and a two-hundred day moving average price of $254.58. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a market capitalization of $62.38 billion, a P/E ratio of 38.89, a PEG ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. As a group, sell-side analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several research reports. Stifel Nicolaus raised their price objective on Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group upped their price target on shares of Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. KeyCorp boosted their target price on shares of Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and raised their price objective for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. Finally, BMO Capital Markets boosted their target price on shares of Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $300.18.

Insider Activity at Workday

In related news, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the sale, the director now owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sayan Chakraborty sold 6,056 shares of Workday stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total value of $1,607,868.00. Following the sale, the insider now directly owns 111,324 shares in the company, valued at approximately $29,556,522. This trade represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 431,145 shares of company stock valued at $108,631,438. Insiders own 20.00% of the company’s stock.

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.