Workday, Inc. (NASDAQ:WDAY) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its position in Workday, Inc. (NASDAQ:WDAY) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,086,818 shares of the software maker’s stock after selling 65,393 shares during the quarter. Pictet Asset Management Holding SA owned about 0.78% of Workday worth $538,462,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WDAY. Vanguard Group Inc. increased its holdings in Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after purchasing an additional 4,517,272 shares in the last quarter. Norges Bank purchased a new position in Workday in the 4th quarter worth approximately $645,710,000. Parnassus Investments LLC grew its position in Workday by 562.2% in the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after acquiring an additional 2,078,097 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Workday in the fourth quarter valued at $194,679,000. Finally, Two Sigma Advisers LP grew its stake in shares of Workday by 1,094.2% during the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after acquiring an additional 562,400 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WDAY. Guggenheim reaffirmed a “neutral” rating on shares of Workday in a research report on Wednesday, February 26th. UBS Group raised their price objective on shares of Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. BMO Capital Markets upped their target price on shares of Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. StockNews.com downgraded Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. increased their target price on Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $300.36.

Workday Trading Down 2.5 %

Shares of WDAY stock opened at $244.55 on Friday. The stock has a 50-day simple moving average of $256.89 and a 200 day simple moving average of $254.93. The stock has a market capitalization of $65.05 billion, a P/E ratio of 40.56, a P/E/G ratio of 3.55 and a beta of 1.38. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. On average, sell-side analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $261.75, for a total value of $14,658,000.00. Following the completion of the sale, the insider now directly owns 172,000 shares of the company’s stock, valued at $45,021,000. This represents a 24.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sayan Chakraborty sold 6,056 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the transaction, the insider now owns 111,324 shares in the company, valued at approximately $29,556,522. This represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 487,145 shares of company stock valued at $123,289,438. Company 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.