Mediolanum International Funds Ltd Sells 20,689 Shares of Workday, Inc. (NASDAQ:WDAY)

Mediolanum International Funds Ltd decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 87.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,892 shares of the software maker’s stock after selling 20,689 shares during the period. Mediolanum International Funds Ltd’s holdings in Workday were worth $703,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WDAY. Crewe Advisors LLC purchased a new stake in shares of Workday during the first quarter valued at approximately $27,000. SouthState Corp grew its holdings in shares of Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after buying an additional 129 shares during the last quarter. Pacific Center for Financial Services grew its holdings in shares of Workday by 57.0% during the first quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock valued at $43,000 after buying an additional 57 shares during the last quarter. Goodman Advisory Group LLC purchased a new stake in shares of Workday during the second quarter valued at approximately $35,000. Finally, Asset Dedication LLC purchased a new stake in shares of Workday during the second quarter valued at approximately $36,000. Institutional investors own 89.81% of the company’s stock.

Workday Price Performance

Workday stock opened at $237.71 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The company has a market capitalization of $62.99 billion, a price-to-earnings ratio of 42.83, a price-to-earnings-growth ratio of 4.90 and a beta of 1.35. The company’s 50 day simple moving average is $247.09 and its 200-day simple moving average is $236.82. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The business’s revenue was up 16.5% compared to the same quarter last year. As a group, equities research analysts expect that Workday, Inc. will post 2.4 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on WDAY. Morgan Stanley cut their price target on shares of Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Canaccord Genuity Group restated a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Friday, September 13th. Evercore ISI dropped their target price on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. DA Davidson raised their target price on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Finally, Citigroup dropped their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $287.04.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $26,902,816.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the completion of the sale, the director now directly owns 97,500 shares of the company’s stock, valued at $25,381,200. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 370,575 shares of company stock valued at $91,506,897 in the last quarter. 20.00% of the stock is currently owned by corporate insiders.

Workday 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.