Mediolanum International Funds Ltd Purchases 1,473 Shares of Workday, Inc. (NASDAQ:WDAY)

Key Points

• Mediolanum International Funds Ltd increased its stake in Workday by 33.3%, owning 5,890 shares valued at approximately $1.4 million as of the last quarter.
• Research analysts have mixed ratings on Workday's stock, with 19 buy ratings and a consensus price target of $296.88.
• Recent insider trades saw CFO Zane Rowe selling 6,000 shares and major shareholder David A. Duffield selling 73,971 shares, indicating a decrease in insider ownership by 41.8% for Duffield.

Mediolanum International Funds Ltd lifted its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 33.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,890 shares of the software maker's stock after buying an additional 1,473 shares during the period. Mediolanum International Funds Ltd's holdings in Workday were worth $1,405,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of WDAY. Private Trust Co. NA raised its position in Workday by 15.2% in the first quarter. Private Trust Co. NA now owns 318 shares of the software maker's stock worth $74,000 after acquiring an additional 42 shares in the last quarter. CreativeOne Wealth LLC grew its stake in shares of Workday by 1.5% in the 4th quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker's stock worth $745,000 after purchasing an additional 43 shares during the last quarter. Salvus Wealth Management LLC raised its holdings in shares of Workday by 2.8% in the 1st quarter. Salvus Wealth Management LLC now owns 1,658 shares of the software maker's stock worth $387,000 after purchasing an additional 45 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Workday by 15.0% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 353 shares of the software maker's stock worth $82,000 after purchasing an additional 46 shares in the last quarter. Finally, AE Wealth Management LLC lifted its stake in Workday by 0.4% during the first quarter. AE Wealth Management LLC now owns 11,896 shares of the software maker's stock valued at $2,778,000 after purchasing an additional 46 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

Insiders Place Their Bets

In other Workday news, CAO Mark S. Garfield sold 451 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $234.86, for a total transaction of $105,921.86. Following the sale, the chief accounting officer owned 42,977 shares of the company's stock, valued at $10,093,578.22. This represents a 1.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the completion of the sale, the chief executive officer owned 1,472 shares of the company's stock, valued at $352,440.96. The trade was a 80.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 329,005 shares of company stock valued at $79,203,523 over the last three months. Company insiders own 19.31% of the company's stock.

Workday Price Performance

Shares of WDAY traded down $3.01 during mid-day trading on Friday, reaching $226.37. The company had a trading volume of 1,273,870 shares, compared to its average volume of 2,262,649. The company's 50-day moving average is $239.71 and its 200-day moving average is $246.31. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07. The company has a market capitalization of $60.44 billion, a P/E ratio of 125.03, a P/E/G ratio of 3.59 and a beta of 1.21. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping the consensus estimate of $2.01 by $0.22. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. Workday's revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.74 EPS. On average, equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. 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. Oppenheimer cut their price objective on Workday from $320.00 to $300.00 and set an "outperform" rating for the company in a report on Friday, May 23rd. Westpark Capital boosted their target price on Workday from $315.00 to $328.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Stifel Nicolaus dropped their target price on Workday from $310.00 to $275.00 and set a "hold" rating on the stock in a research report on Friday, May 23rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $340.00 price target on shares of Workday in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $296.88.

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.