Workday, Inc. $WDAY Stock: Pictet Asset Management Holding SA Increases Position

Pictet Asset Management Holding SA lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 7.6% during the third quarter, Holdings Channel.com reports. The fund owned 3,033,026 shares of the software maker’s stock after acquiring an additional 213,618 shares during the period. Pictet Asset Management Holding SA’s holdings in Workday were worth $577,639,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. CoreCap Advisors LLC increased its holdings in shares of Workday by 55.9% in the third quarter. CoreCap Advisors LLC now owns 173 shares of the software maker’s stock valued at $33,000 after purchasing an additional 62 shares during the period. Signature Equity Partners LLC lifted its stake in shares of Workday by 350.0% in the 3rd quarter. Signature Equity Partners LLC now owns 198 shares of the software maker’s stock valued at $38,000 after purchasing an additional 154 shares during the period. Provenance Wealth Advisors LLC raised its position in shares of Workday by 388.9% in the third quarter. Provenance Wealth Advisors LLC now owns 220 shares of the software maker’s stock worth $42,000 after acquiring an additional 175 shares during the period. Western Wealth Management LLC acquired a new position in shares of Workday in the first quarter worth about $39,000. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of Workday during the 2nd quarter worth about $42,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Workday

In related news, insider Gerrit Kazmaier sold 2,729 shares of Workday stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $187.28, for a total transaction of $511,087.12. Following the completion of the sale, the insider owned 251,314 shares in the company, valued at approximately $47,066,085.92. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David Duffield sold 99,835 shares of Workday stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $187.55, for a total transaction of $18,724,054.25. Following the sale, the insider owned 105,049 shares of the company’s stock, valued at approximately $19,701,939.95. This trade represents a 48.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 988,104 shares of company stock valued at $188,811,574. 18.64% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Stifel Nicolaus raised their target price on Workday from $160.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 15th. BMO Capital Markets reissued an “outperform” rating and issued a $230.00 price objective (up from $182.00) on shares of Workday in a report on Thursday, October 15th. Bank of America boosted their price target on Workday from $140.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. The Goldman Sachs Group upped their price objective on shares of Workday from $151.00 to $164.00 and gave the stock a “neutral” rating in a research report on Monday, August 31st. Finally, Wall Street Zen raised Workday from a “hold” rating to a “buy” rating in a research note on Saturday, September 5th. Twenty-two analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $202.10.

Workday Stock Down 3.6%

WDAY opened at $192.90 on Friday. Workday, Inc. has a one year low of $110.36 and a one year high of $236.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. The business’s fifty day moving average is $194.33 and its two-hundred day moving average is $156.48. The company has a market cap of $46.49 billion, a price-to-earnings ratio of 39.13, a PEG ratio of 1.94 and a beta of 1.02.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.14. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Workday had a net margin of 12.32% and a return on equity of 20.95%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.21 EPS. Analysts anticipate that Workday, Inc. will post 5.32 EPS for the current fiscal year.

About Workday

Workday, Inc develops cloud-based software for managing human resources, finance and business operations. Its products include Workday Human Capital Management, Workday Financial Management and Workday Adaptive Planning, which help organizations manage areas such as workforce administration, accounting, budgeting and forecasting.

Founded in 2005 by Dave Duffield and Aneel Bhusri, Workday serves businesses, governments and educational institutions across a range of industries. Its operations and customer base extend across North America and international markets.

Carl Eschenbach is Workday’s chief executive officer, and co-founder Aneel Bhusri serves as executive chair.