Cygnus Capital Advisors LLC Has $3.06 Million Holdings in Workday, Inc. $WDAY

Cygnus Capital Advisors LLC grew its holdings in Workday, Inc. (NASDAQ:WDAY) by 14.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,960 shares of the software maker’s stock after purchasing an additional 3,160 shares during the period. Workday comprises 2.1% of Cygnus Capital Advisors LLC’s portfolio, making the stock its 22nd largest holding. Cygnus Capital Advisors LLC’s holdings in Workday were worth $3,056,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Rakuten Securities Inc. acquired a new position in Workday in the 2nd quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC purchased a new stake in Workday in the 3rd quarter worth approximately $26,000. JPL Wealth Management LLC acquired a new stake in shares of Workday during the 3rd quarter valued at $30,000. DT Investment Partners LLC purchased a new position in shares of Workday during the 4th quarter valued at $27,000. Finally, LRI Investments LLC purchased a new position in shares of Workday during the 4th quarter valued at $29,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WDAY. DA Davidson increased their price objective on Workday from $135.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, August 28th. Capital One Financial set a $219.00 target price on Workday and gave the stock an “equal weight” rating in a research report on Friday, August 28th. Oppenheimer raised their price target on Workday from $165.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, August 24th. Cantor Fitzgerald reduced their price target on Workday from $220.00 to $205.00 and set an “overweight” rating for the company in a report on Friday, August 28th. Finally, Summit Redstone set a $275.00 price objective on Workday in a report on Wednesday, May 27th. Twenty analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $206.34.

Workday Stock Performance

Shares of WDAY stock opened at $195.79 on Tuesday. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $249.85. The company has a market cap of $47.19 billion, a PE ratio of 39.71, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $167.46 and its two-hundred day moving average is $142.97.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.14. Workday had a net margin of 12.32% and a return on equity of 20.95%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the prior year, the firm earned $2.21 EPS. Workday’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities analysts predict that Workday, Inc. will post 5.3 EPS for the current year.

Insider Activity

In related news, insider Gerrit S. Kazmaier sold 2,728 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total transaction of $391,795.36. Following the completion of the transaction, the insider owned 266,388 shares of the company’s stock, valued at approximately $38,258,644.56. The trade was a 1.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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, CFO Zane Rowe sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total value of $862,200.00. Following the sale, the chief financial officer owned 288,460 shares of the company’s stock, valued at approximately $41,451,702. The trade was a 2.04% 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 754,981 shares of company stock worth $101,916,181 in the last 90 days. Insiders own 18.64% of the company’s stock.

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.