Banque Pictet & Cie SA Acquires 21,753 Shares of Workday, Inc. (NASDAQ:WDAY)

Banque Pictet & Cie SA increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 35.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,554 shares of the software maker’s stock after acquiring an additional 21,753 shares during the quarter. Banque Pictet & Cie SA’s holdings in Workday were worth $18,456,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. VisionPoint Advisory Group LLC increased its position in Workday by 27.6% in the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock valued at $43,000 after acquiring an additional 34 shares during the period. Carolinas Wealth Consulting LLC grew its stake in shares of Workday by 9.7% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock worth $106,000 after purchasing an additional 34 shares during the last quarter. Congress Wealth Management LLC DE increased its holdings in Workday by 2.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 1,658 shares of the software maker’s stock valued at $458,000 after purchasing an additional 39 shares during the period. Raleigh Capital Management Inc. raised its position in Workday by 4.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 869 shares of the software maker’s stock worth $240,000 after purchasing an additional 39 shares during the last quarter. Finally, Hudson Value Partners LLC lifted its holdings in Workday by 0.8% during the 4th quarter. Hudson Value Partners LLC now owns 5,135 shares of the software maker’s stock worth $1,418,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 82,762 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $210.28, for a total transaction of $17,403,193.36. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $21,658,209.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, major shareholder David A. Duffield sold 82,762 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $210.28, for a total transaction of $17,403,193.36. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $21,658,209.16. The transaction 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 57,000 shares of Workday stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $209.17, for a total transaction of $11,922,690.00. Following the completion of the sale, the insider now directly owns 786,000 shares in the company, valued at approximately $164,407,620. The disclosure for this sale can be found here. In the last 90 days, insiders sold 524,672 shares of company stock worth $115,938,834. Insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WDAY. Evercore ISI lowered their price objective on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research report on Tuesday. Citigroup lowered their price target on shares of Workday from $293.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Bank of America boosted their price target on shares of Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday. Sanford C. Bernstein decreased their price objective on shares of Workday from $321.00 to $301.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Finally, Canaccord Genuity Group lifted their target price on shares of Workday from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $288.15.

Workday Stock Up 12.5 %

Shares of WDAY stock traded up $28.87 during trading hours on Friday, reaching $259.95. The company had a trading volume of 9,701,850 shares, compared to its average volume of 2,106,519. The business has a fifty day simple moving average of $223.72 and a 200-day simple moving average of $247.95. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a market cap of $68.89 billion, a price-to-earnings ratio of 46.84, a price-to-earnings-growth ratio of 5.82 and a beta of 1.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data 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. Workday had a net margin of 19.59% and a return on equity of 5.46%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the firm earned $0.40 EPS. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, research analysts expect that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

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.