Cynosure Group LLC Purchases 626 Shares of Workday, Inc. $WDAY

Cynosure Group LLC raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 2.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 24,471 shares of the software maker’s stock after purchasing an additional 626 shares during the quarter. Workday accounts for about 0.7% of Cynosure Group LLC’s portfolio, making the stock its 22nd largest position. Cynosure Group LLC’s holdings in Workday were worth $5,873,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Nuveen LLC bought a new position in Workday in the 1st quarter valued at $456,341,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of Workday by 47.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker’s stock valued at $879,147,000 after purchasing an additional 1,211,659 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Workday by 35.6% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 3,479,105 shares of the software maker’s stock worth $812,475,000 after purchasing an additional 913,613 shares during the last quarter. Generation Investment Management LLP increased its stake in Workday by 36.6% in the 1st quarter. Generation Investment Management LLP now owns 2,903,767 shares of the software maker’s stock worth $678,117,000 after buying an additional 778,301 shares during the period. Finally, Parnassus Investments LLC lifted its holdings in Workday by 22.4% during the 1st quarter. Parnassus Investments LLC now owns 2,996,429 shares of the software maker’s stock valued at $699,756,000 after buying an additional 548,694 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Trading Up 3.8%

WDAY opened at $225.14 on Friday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.33. The firm has a market cap of $60.11 billion, a price-to-earnings ratio of 104.23, a PEG ratio of 2.81 and a beta of 1.11. Workday, Inc. has a 12 month low of $205.33 and a 12 month high of $294.00. The stock has a fifty day moving average price of $233.97 and a 200-day moving average price of $237.11.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.12. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.34 billion. Workday had a return on equity of 9.74% and a net margin of 6.51%.The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.75 earnings per share. As a group, equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Workday from $330.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, August 22nd. Wells Fargo & Company dropped their price objective on Workday from $325.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, August 18th. TD Cowen decreased their target price on Workday from $310.00 to $290.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. Guggenheim upgraded Workday from a “neutral” rating to a “buy” rating and set a $285.00 target price for the company in a report on Wednesday, September 17th. Finally, UBS Group set a $304.00 price target on Workday in a research note on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $287.86.

Insiders Place Their Bets

In other Workday news, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $232.62, for a total value of $1,395,720.00. Following the completion of the sale, the chief financial officer directly owned 168,468 shares in the company, valued at $39,189,026.16. This trade represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael M. Mcnamara sold 5,393 shares of the company’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $235.16, for a total value of $1,268,217.88. Following the transaction, the director directly owned 24,078 shares in the company, valued at approximately $5,662,182.48. The trade was a 18.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 264,933 shares of company stock worth $61,475,760. Insiders own 19.31% of the company’s stock.

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.