Mirabella Financial Services LLP Raises Stake in Workday, Inc. (NASDAQ:WDAY)

Mirabella Financial Services LLP boosted its holdings in Workday, Inc. (NASDAQ:WDAY) by 65.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,792 shares of the software maker’s stock after purchasing 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.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WDAY. The Manufacturers Life Insurance Company raised its stake in shares of Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after acquiring an additional 1,016,394 shares during the period. Van ECK Associates Corp raised its position in Workday by 17,345.2% in the second quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock valued at $208,068,000 after purchasing an additional 925,366 shares during the period. D1 Capital Partners L.P. lifted its stake in shares of Workday by 152.1% during the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock worth $115,804,000 after purchasing an additional 312,500 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of Workday by 17,001.6% in the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock worth $703,000 after buying an additional 284,266 shares during the period. Finally, Rokos Capital Management LLP grew its stake in shares of Workday by 332.4% in the first quarter. Rokos Capital Management LLP now owns 332,986 shares of the software maker’s stock valued at $90,839,000 after buying an additional 255,971 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Price Performance

Shares of WDAY opened at $271.00 on Monday. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The stock’s fifty day moving average is $247.71 and its 200-day moving average is $236.89. 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 firm has a market capitalization 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.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate of $1.65 by $0.10. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. Workday’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the company earned $0.40 EPS. Equities analysts anticipate that Workday, Inc. will post 2.4 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on WDAY. Piper Sandler reissued an “overweight” rating and set a $285.00 price target on shares of Workday in a research report on Wednesday, September 18th. The Goldman Sachs Group lifted their price target on shares of Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Needham & Company LLC reissued a “buy” rating and set a $300.00 price objective on shares of Workday in a report on Monday. DA Davidson upped their target price on shares of Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Finally, Stifel Nicolaus increased their target price on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $289.46.

Insider Activity

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $255.45, for a total value of $1,915,875.00. Following the completion of the sale, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. This represents a 7.69 % 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, 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. This represents a 39.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 359,954 shares of company stock worth $88,742,132 over the last three months. Corporate insiders own 20.00% of the company’s stock.

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.