Banque Pictet & Cie SA Has $24.68 Million Position in Workday, Inc. (NASDAQ:WDAY)

Banque Pictet & Cie SA increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,647 shares of the software maker’s stock after buying an additional 4,391 shares during the quarter. Banque Pictet & Cie SA’s holdings in Workday were worth $24,680,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in WDAY. Swedbank AB grew its position in Workday by 2.1% during the third quarter. Swedbank AB now owns 82,847 shares of the software maker’s stock worth $20,249,000 after buying an additional 1,668 shares in the last quarter. Opal Wealth Advisors LLC grew its position in Workday by 5.2% during the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after buying an additional 47 shares in the last quarter. Beech Hill Advisors Inc. acquired a new stake in Workday during the third quarter worth approximately $1,419,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Workday by 5.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,493 shares of the software maker’s stock worth $11,852,000 after buying an additional 2,453 shares in the last quarter. Finally, Claro Advisors LLC acquired a new stake in Workday during the third quarter worth approximately $255,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Activity

In other news, major shareholder David A. Duffield sold 70,090 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,215,826.41. This represents a 40.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the sale, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock worth $113,142,592 in the last quarter. 20.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WDAY. Scotiabank began coverage on Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price on the stock. Royal Bank of Canada raised their target price on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Morgan Stanley raised their target price on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Citigroup reduced their target price on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Thursday, February 6th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $292.43.

Workday Stock Up 0.9 %

Workday stock opened at $260.13 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The firm has a 50 day moving average price of $262.35 and a two-hundred day moving average price of $251.18. The firm has a market cap of $69.19 billion, a price-to-earnings ratio of 43.14, a PEG ratio of 3.78 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Workday’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 EPS. Equities analysts predict that Workday, Inc. will post 2.63 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.