Mirabella Financial Services LLP Increases Stock Position in Workday, Inc. (NASDAQ:WDAY)

Mirabella Financial Services LLP increased its holdings in Workday, Inc. (NASDAQ:WDAY) by 65.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,792 shares of the software maker’s stock after acquiring an additional 3,878 shares during the quarter. Mirabella Financial Services LLP’s holdings in Workday were worth $2,357,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Meeder Asset Management Inc. increased its stake in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares during the period. Kingsview Wealth Management LLC raised its stake in Workday by 0.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock valued at $1,243,000 after acquiring an additional 43 shares during the last quarter. Diversified Trust Co raised its stake in Workday by 1.0% during the 2nd quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock valued at $1,080,000 after acquiring an additional 47 shares during the last quarter. Opal Wealth Advisors LLC lifted its position in Workday by 5.2% during the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after acquiring an additional 47 shares during the period. Finally, Mesirow Financial Investment Management Inc. grew its stake in shares of Workday by 3.4% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock valued at $324,000 after purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value 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 39.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the transaction, the director now directly owns 90,000 shares of the company’s stock, valued at $22,990,500. This trade represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 359,954 shares of company stock worth $88,742,132 over the last quarter. 20.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on WDAY. Canaccord Genuity Group restated a “buy” rating and set a $300.00 price target on shares of Workday in a research note on Friday, September 13th. 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 research note on Friday, August 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 target price on shares of Workday in a report on Thursday, September 19th. Barclays increased their price target on shares of Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Citigroup lowered their price objective on 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-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $289.46.

Workday Price Performance

NASDAQ:WDAY opened at $271.00 on Monday. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The firm has a market cap of $71.82 billion, a price-to-earnings ratio of 46.65, a price-to-earnings-growth ratio of 5.31 and a beta of 1.35. The company’s 50-day moving average is $247.71 and its two-hundred day moving average is $236.89. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

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

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.