Synovus Financial Corp Sells 5,016 Shares of Workday, Inc. (NASDAQ:WDAY)

Synovus Financial Corp decreased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 25.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,574 shares of the software maker’s stock after selling 5,016 shares during the quarter. Synovus Financial Corp’s holdings in Workday were worth $3,761,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. raised its position in Workday by 38.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,852 shares of the software maker’s stock valued at $2,284,000 after purchasing an additional 2,443 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new position in shares of Workday during the fourth quarter valued at $252,000. Optimize Financial Inc bought a new stake in shares of Workday in the fourth quarter valued at about $208,000. Qtron Investments LLC lifted its stake in Workday by 21.7% in the fourth quarter. Qtron Investments LLC now owns 3,237 shares of the software maker’s stock worth $835,000 after acquiring an additional 577 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its stake in Workday by 0.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 159,120 shares of the software maker’s stock worth $41,060,000 after acquiring an additional 886 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In other Workday news, CAO Mark S. Garfield sold 497 shares of the stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the transaction, the chief accounting officer now owns 34,385 shares in the company, valued at approximately $7,789,921.75. This represents a 1.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Carl M. Eschenbach sold 3,125 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total value of $733,156.25. Following the completion of the sale, the chief executive officer now owns 10,847 shares of the company’s stock, valued at $2,544,814.67. This trade represents a 22.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 321,724 shares of company stock valued at $77,976,126 in the last ninety days. 20.00% of the stock is currently owned by corporate insiders.

Workday Stock Up 2.6 %

Workday stock opened at $232.34 on Tuesday. The business’s 50-day moving average price is $247.59 and its 200 day moving average price is $252.79. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market cap of $61.80 billion, a price-to-earnings ratio of 38.53, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WDAY shares. Citigroup lowered their price target on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. StockNews.com cut Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. BNP Paribas raised Workday to a “strong-buy” rating in a research report on Friday, February 14th. Royal Bank of Canada raised their price objective on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, Redburn Atlantic assumed coverage on Workday in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $298.75.

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.