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

Cygnus Capital Advisors LLC grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 14.5% in the second quarter, Holdings Channel reports. The institutional investor owned 24,960 shares of the software maker’s stock after purchasing an additional 3,160 shares during the period. Workday accounts for approximately 2.1% of Cygnus Capital Advisors LLC’s holdings, making the stock its 22nd biggest position. Cygnus Capital Advisors LLC’s holdings in Workday were worth $3,056,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in WDAY. Strategic Investment Advisors MI lifted its stake in Workday by 1.6% in the 2nd quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker’s stock valued at $777,000 after purchasing an additional 50 shares during the last quarter. L2 Asset Management LLC increased its position in Workday by 7.8% during the fourth quarter. L2 Asset Management LLC now owns 1,079 shares of the software maker’s stock worth $232,000 after buying an additional 78 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Workday by 0.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,798 shares of the software maker’s stock valued at $5,326,000 after buying an additional 80 shares during the period. Colonial Trust Co SC raised its stake in Workday by 45.8% in the fourth quarter. Colonial Trust Co SC now owns 280 shares of the software maker’s stock valued at $60,000 after buying an additional 88 shares during the period. Finally, Scotia Capital Inc. lifted its position in shares of Workday by 5.4% in the third quarter. Scotia Capital Inc. now owns 1,759 shares of the software maker’s stock valued at $423,000 after buying an additional 90 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

WDAY opened at $195.79 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $249.85. The firm has a market cap of $47.19 billion, a P/E ratio of 39.71, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08. The business’s fifty day moving average is $167.46 and its 200-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 for the quarter, topping the consensus estimate of $2.61 by $0.14. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Workday had a net margin of 12.32% and a return on equity of 20.95%. Workday’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.21 earnings per share. Sell-side analysts expect that Workday, Inc. will post 5.3 EPS for the current fiscal year.

Insider Activity

In other Workday news, insider Gerrit S. Kazmaier sold 2,728 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $143.62, for a total transaction of $391,795.36. Following the completion of the transaction, the insider directly owned 266,388 shares in the company, valued at $38,258,644.56. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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, insider Robert Enslin sold 5,374 shares of the company’s stock in a transaction on Sunday, July 5th. The stock was sold at an average price of $134.90, for a total value of $724,952.60. Following the sale, the insider owned 239,469 shares of the company’s stock, valued at $32,304,368.10. The trade was a 2.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 have sold a total of 754,981 shares of company stock valued at $101,916,181 over the last quarter. 18.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WDAY. Stifel Nicolaus lifted their target price on Workday from $115.00 to $160.00 and gave the stock a “hold” rating in a research note on Friday, August 28th. William Blair reaffirmed an “outperform” rating on shares of Workday in a report on Friday, August 28th. HC Wainwright set a $140.00 price objective on shares of Workday in a research report on Wednesday, May 27th. Robert W. Baird upped their price objective on shares of Workday from $190.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Finally, Jefferies Financial Group set a $220.00 price objective on shares of Workday in a research report on Friday, August 28th. Twenty research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Workday has an average rating of “Hold” and a consensus target price of $206.34.

Workday Profile

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.