Bank Pictet & Cie Europe AG Sells 12,711 Shares of Workday, Inc. $WDAY

Bank Pictet & Cie Europe AG decreased its position in Workday, Inc. (NASDAQ:WDAY) by 34.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 23,693 shares of the software maker’s stock after selling 12,711 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Workday were worth $5,704,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of WDAY. Verdence Capital Advisors LLC raised its position in shares of Workday by 1.0% in the 2nd quarter. Verdence Capital Advisors LLC now owns 4,381 shares of the software maker’s stock worth $1,051,000 after acquiring an additional 45 shares in the last quarter. Perennial Investment Advisors LLC grew its stake in Workday by 2.8% during the second quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock worth $418,000 after purchasing an additional 48 shares during the period. Johnson Investment Counsel Inc. increased its holdings in Workday by 2.3% in the second quarter. Johnson Investment Counsel Inc. now owns 2,201 shares of the software maker’s stock worth $528,000 after purchasing an additional 49 shares in the last quarter. Bay Harbor Wealth Management LLC lifted its stake in Workday by 12.0% in the third quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker’s stock valued at $110,000 after buying an additional 49 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in Workday by 1.2% in the third quarter. Farther Finance Advisors LLC now owns 4,128 shares of the software maker’s stock valued at $994,000 after buying an additional 49 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WDAY has been the subject of several research analyst reports. Sanford C. Bernstein lowered their price objective on shares of Workday from $304.00 to $298.00 and set an “outperform” rating for the company in a research note on Wednesday, November 26th. DA Davidson reduced their price target on shares of Workday from $260.00 to $250.00 and set a “hold” rating for the company in a report on Wednesday, November 26th. Cowen reaffirmed a “buy” rating on shares of Workday in a research note on Wednesday, November 26th. TD Cowen cut their price objective on shares of Workday from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. Finally, Evercore ISI raised their target price on Workday from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $282.22.

Workday Stock Down 1.0%

Workday stock opened at $214.78 on Friday. The firm has a market capitalization of $56.49 billion, a price-to-earnings ratio of 90.24, a price-to-earnings-growth ratio of 2.42 and a beta of 1.14. The firm’s fifty day moving average price is $223.24 and its two-hundred day moving average price is $229.74. Workday, Inc. has a 1-year low of $205.33 and a 1-year high of $283.68. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the prior year, the business posted $1.89 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 80,279 shares of the stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $215.04, for a total value of $17,263,196.16. Following the completion of the sale, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $22,589,736.96. This represents a 43.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 1,915 shares of the firm’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $238.96, for a total value of $457,608.40. Following the transaction, the chief accounting officer owned 37,351 shares in the company, valued at approximately $8,925,394.96. This trade represents a 4.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 340,966 shares of company stock valued at $75,095,274. Corporate insiders own 19.31% of the company’s stock.

Workday Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.