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

Bank Pictet & Cie Europe AG cut its position in Workday, Inc. (NASDAQ:WDAY) by 34.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,693 shares of the software maker’s stock after selling 12,711 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Workday were worth $5,704,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Rakuten Securities Inc. bought a new position in Workday in the second quarter valued at approximately $25,000. Berbice Capital Management LLC boosted its holdings in shares of Workday by 136.4% in the 2nd quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock valued at $31,000 after purchasing an additional 75 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of Workday by 2,216.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock valued at $33,000 after purchasing an additional 133 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Workday during the 2nd quarter worth $41,000. Finally, Physician Wealth Advisors Inc. bought a new stake in shares of Workday during the 2nd quarter worth $42,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Trading Down 1.0%

Shares of NASDAQ WDAY opened at $214.78 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83. Workday, Inc. has a 52-week low of $205.33 and a 52-week high of $283.68. The firm has a 50 day moving average price of $223.24 and a two-hundred day moving average price of $229.74. The stock has a market cap of $56.49 billion, a P/E ratio of 90.24, a price-to-earnings-growth ratio of 2.42 and a beta of 1.14.

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

Insider Activity

In related news, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $232.62, for a total value of $1,395,720.00. Following the transaction, the chief financial officer directly owned 168,468 shares of the company’s stock, valued at $39,189,026.16. The trade was a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 82,025 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $212.19, for a total transaction of $17,404,884.75. Following the sale, the insider directly owned 105,049 shares of the company’s stock, valued at $22,290,347.31. This represents a 43.85% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 340,966 shares of company stock worth $75,095,274. 19.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on WDAY. Macquarie reiterated a “buy” rating on shares of Workday in a research report on Wednesday, November 26th. Wells Fargo & Company reduced their price target on shares of Workday from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. KeyCorp lowered their price objective on shares of Workday from $285.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. UBS Group set a $260.00 price objective on shares of Workday in a research note on Wednesday, November 26th. Finally, Evercore ISI raised their target price on shares of Workday from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $282.22.

Workday Company 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.