M & L Capital Management Ltd Invests $771,000 in Workday, Inc. (NASDAQ:WDAY)

M & L Capital Management Ltd purchased a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,300 shares of the software maker's stock, valued at approximately $771,000. Workday makes up approximately 0.2% of M & L Capital Management Ltd's investment portfolio, making the stock its 15th biggest holding.

Several other large investors have also modified their holdings of the stock. Bristlecone Advisors LLC boosted its stake in shares of Workday by 49.6% during the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock worth $754,000 after buying an additional 968 shares during the period. Burns Matteson Capital Management LLC acquired a new stake in shares of Workday during the fourth quarter worth about $369,000. Swedbank AB lifted its position in Workday by 17.7% during the 4th quarter. Swedbank AB now owns 97,529 shares of the software maker's stock worth $25,165,000 after acquiring an additional 14,682 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in Workday during the 4th quarter worth approximately $8,984,000. Finally, Mediolanum International Funds Ltd lifted its position in Workday by 52.7% during the 4th quarter. Mediolanum International Funds Ltd now owns 4,417 shares of the software maker's stock worth $1,154,000 after acquiring an additional 1,525 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 66,455 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $26,729,781.44. This trade represents a 39.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Carl M. Eschenbach sold 3,125 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total value of $733,156.25. Following the sale, the chief executive officer now owns 10,847 shares of the company's stock, valued at $2,544,814.67. This represents a 22.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 318,793 shares of company stock worth $77,122,102. Corporate insiders own 20.00% of the company's stock.

Workday Trading Up 2.4%

NASDAQ WDAY traded up $5.77 during mid-day trading on Friday, hitting $247.53. The company's stock had a trading volume of 3,490,326 shares, compared to its average volume of 2,500,048. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The stock's fifty day simple moving average is $241.60 and its two-hundred day simple moving average is $253.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a market capitalization of $65.84 billion, a P/E ratio of 41.05, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.22. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the business earned $1.74 earnings per share. The business's quarterly revenue was up 12.6% compared to the same quarter last year. Research analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on WDAY shares. UBS Group raised their target price on shares of Workday from $255.00 to $285.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. KeyCorp cut their price target on Workday from $335.00 to $325.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Mizuho cut their target price on shares of Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Needham & Company LLC restated a "buy" rating and set a $300.00 price objective on shares of Workday in a research report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. cut their price objective on Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Nine equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $293.54.

About Workday

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.