Bank Pictet & Cie Europe AG Increases Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Bank Pictet & Cie Europe AG boosted its stake in Workday, Inc. (NASDAQ:WDAY) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,480 shares of the software maker’s stock after acquiring an additional 93 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Workday were worth $606,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Workday by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after purchasing an additional 324,540 shares in the last quarter. Sustainable Growth Advisers LP lifted its holdings in Workday by 9.7% in the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock worth $927,998,000 after buying an additional 301,463 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Workday by 12.4% during the first quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after acquiring an additional 281,207 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Workday by 79.1% during the second 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 in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after acquiring an additional 118,180 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Price Performance

Shares of WDAY opened at $246.76 on Wednesday. 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 $246.48 and its 200-day moving average is $237.45. 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 $65.39 billion, a price-to-earnings ratio of 44.46, a price-to-earnings-growth ratio of 4.85 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its quarterly 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. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. Equities analysts anticipate that Workday, Inc. will post 2.4 EPS for the current year.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of recent analyst reports. Canaccord Genuity Group restated a “buy” rating and set a $300.00 price objective on shares of Workday in a report on Friday, September 13th. Evercore ISI cut their price target 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. Stifel Nicolaus raised their price objective on shares of Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Morgan Stanley dropped their target price on shares of Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Finally, Citigroup decreased their price target on Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $287.04.

Insider Buying and Selling at Workday

In other news, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.29, for a total value of $812,365.09. Following the sale, the insider now owns 196,344 shares of the company’s stock, valued at approximately $51,106,379.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $260.29, for a total value of $812,365.09. Following the transaction, the insider now owns 196,344 shares of the company’s stock, valued at $51,106,379.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the sale, the insider now directly owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 370,575 shares of company stock valued at $91,506,897. 20.00% of the stock is owned by corporate insiders.

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.